Qatar's central bank has broken ranks with other monetary authorities in the oil-rich Gulf region to express its first public concern about the longstanding policy of linking its currency to the U.S. dollar.
While reaffirming that the central bank intends to maintain the Qatari riyal's peg to the dollar, Qatari central bank governor Abdullah Saud Al Thani departed from his previous outright endorsement of the peg by highlighting some of the problems it has caused for Qatari policy-making.
"There are some challenges while operating under fixed exchange rates," Mr. Al Thani said in an emailed response to questions from Zawya Dow Jones. "With the fixed anchor, we have to maintain our stance of policy consistent with that of the US which may not be always justified based on our own domestic considerations."
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