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Dollar slump hits expats
- United Arab Emirates: Saturday, May 05 - 2007 at 08:01
UAE based expatriates are continuing to feel the squeeze of a weak dollar dragging down the value of the pegged dirham and the strengthening of currencies in their home nations, reported Gulf News. GCC currencies have been hit by the dollar's slide against the Euro, the UK pound and several Asian currencies. The Standard Chartered Bank's Steve Brice said there is now 'a strong case for revaluation in the Gulf countries'.
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Jonathan Sheikh-Miller, Deputy EditorSaturday, May 05 - 2007 at 08:01 UAE local time (GMT+4)
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This article was updated on Sat May 26 2007.
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