The United Arab Emirates will keep its currency peg to the U.S. dollar even after Standard & Poor's downgraded the world's biggest economy, and Oman sees no risk in investing in U.S. treasuries, officials said on Sunday.
Gulf central bankers were huddled in separate meetings on Sunday to discuss the downgrade, sources said.
All Gulf Arab states, except for Kuwait, peg their currencies to the greenback and their fortunes are closely tied to U.S. developments. Gulf states are also major investors in U.S. treasuries.
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