Gulf Arabs reviewing dollar pegs - report

Gulf Arab oil producers are reviewing currency pegs to the US dollar and could decide as early as March whether to keep or change their exchange rate regime, the United Arab Emirates central bank chief told Reuters Thursday 11 January.

Governors of the six Gulf central banks will meet in March in Saudi Arabia and may agree to switch to another currency or currency basket, Governor Sultan Nasser al-Suweidi said. They may decide leave the pegs as they are and any changes would have to be approve

To continue reading...