Bahrain says Gulf to keep dollar peg after union

A common currency for the GCC Gulf Arab states will at first be pegged to the US dollar although the peg may be reviewed later, Bahrain's central bank governor said Thursday 20 October.

"Two or three years ago it was agreed that we will more or less relate this (single currency) to the dollar, but at a later stage, as we progress with the monetary union, we will ... develop this issue," Central Bank Governor Rasheed Al Maraj told a news conference.

Abdul Rahman Saif, executive director of bank

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