Wednesday 10 December 2014

Dollar peg here to stay, UAE central bank official says | GulfNews.com

Dollar peg here to stay, UAE central bank official says | GulfNews.com:



"The UAE will keep its currency peg to the US dollar, a senior central bank official reiterated on Tuesday after an unusually large move by the dirham in the forwards market.



Asked by Reuters whether the dollar’s global strength was putting any pressure on the peg, Saif Al Shamsi, assistant governor for monetary policy and financial stability, said the dirham had effectively been pegged since the 1980s.



“We have been maintaining this peg and this exchange rate since 1980 until today, and in the future we will continue with this.”"



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