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UAE, Qatar dollar threat
- United Arab Emirates: Saturday, November 10 - 2007 at 07:18
Investment bank Merrill Lynch has said the UAE or Qatar could decide to ditch their dollar pegs in the next six months as rising inflation rates outweigh any benefits of maintaining the link, reported Bloomberg. The bank also stated that speculation would continue with regard to other members of the GCC while Kuwait, which dropped the dinar's peg in May, would 'maintain constant appreciation against the dollar'.
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Jonathan Sheikh-Miller, Deputy EditorSaturday, November 10 - 2007 at 07:18 UAE local time (GMT+4)
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