Gulf countries should discuss whether to shift their currency peg to a basket of international currencies instead of the dollar, the economy minister of the UAE was quoted as saying on Thursday.
Gulf officials have previously denied any risks to pegs in the region, which relies heavily on imports, as a result of the weak US currency.
Sultan Saeed Al-Mansouri told the Arabic language Alsharq Al-Awsat newspaper that shifting pegs towards a currency basket would help Gulf countries protect their currencies and investments.
No comments:
Post a Comment