Kuwaiti dinar will be pegged to dollar

KUWAIT - Kuwait's national currency will be pegged to the US dollar starting 1 January, officials said on Monday.

The Kuwaiti dinar is now pegged to a basket of currencies dominated by the American dollar, Gulf Daily News reported.

The change came in a decree from Kuwait's ruler published in the official Al-Kuwait Al-Yowm."

The Central Bank governor will fix the exchange rate "according to the requirements of the national economy," the gazette said.

The measure is in line with a GCC plan to achi