Contracts used to bet whether Saudi Arabia will allow its currency to weaken rose the most in four months after the kingdom replaced its central bank governor. Twelve-month contracts for the riyal climbed the most since January on Monday, the first trading day after deputy Governor Ahmed Alkholifey was appointed the head of the Saudi Arabian Monetary Agency. His promotion has reignited speculation the kingdom may reconsider the level of its exchange rate. The increase is a reminder of the strain Saudi Arabia’s finances have been under as oil, its main source of income, sank about 60 percent in two years. The nation has been dipping into its foreign reserves and was forced back to the bond market last year for the first time since 2007 to help plug a widening budget deficit. The kingdom’s foreign reserves have declined 14 straight months to $579 billion in March, the lowest […]