SAMA chief says Gulf states to keep pegs

In the run-up to monetary union in 2010 Gulf Arab states are committed to dollar-pegged exchange rates and will need "exceptional efforts" to meet the deadline, the Saudi central bank chief told reporters on Tuesday 3 April.

Oman, one of six countries preparing for monetary union, was still not ready to join, after saying last year that it would not make the 2010 deadline, Hamad Saud al-Sayyari told the media at a meeting of regional central bank governors.

"Monetary union by 2010 requires exce

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