GCC dollar reserve shift unlikely

Oil-producing GCC countries, which hold most of their currency reserves in dollars, are unlikely to move away from the greenback, according to the IMF's director for the Middle East and Central Asia.

Mohsin S Khan, director for the Middle East and Central Asia department at the International Monetary Fund, told Gulf News GCC countries generate hundreds of billion of dollars in revenues from oil sales and these can most easily be placed in the US.

"It is good to diversify to your holdings but th

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