UAE may create body to monitor FX peg, no policy change likely | Reuters:
"An advisory body to the United Arab Emirates government has suggested that the central bank review the country's currency peg to the U.S. dollar, but local bankers said any change to the peg remained very unlikely for the foreseeable future.
An economic committee of the Federal National Council recommended that the central bank establish a department to oversee the peg, Ali Eissa al-Nuaimi, the committee's rapporteur, told Reuters on Thursday.
The department would review the peg periodically and provide information to the central bank's board to help it make decisions, he added. Since 1997, the UAE dirham has been fixed at a rate of 3.6725 to $1."
'via Blog this'
No comments:
Post a Comment