Kuwait to link dinar to dollar

KUWAIT - Kuwait, ending a 27-year-old policy, said yesterday it will fully link the dinar to the U.S. dollar from 2003 as part of a plan by six Gulf states to forge a single currency.

Kuwait's government announced the measure following its weekly meeting on Sunday, Reuters reported. It said in a statement sent to Reuters that a draft decree sanctioning the move was passed and would go to His Highness Emir Sheikh Jaber Al Ahmed Al Sabah for his approval.

It would take effect from January 1, 2003