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Bin Laden words strengthen pegs
- Saudi Arabia: Sunday, December 30 - 2007 at 14:55
Financial experts have said GCC countries are less likely to drop their pegs to the US dollar after Al Qaeda leader Osama bin Laden described the currency tie-ups as 'unjust and arbitrary', reported Reuters. Bin Laden urged Muslims to support militants as their oil, wealth and money was slipping away due to the pegs to the greenback. Analysts feel ditching the pegs will become more difficult as the issue gets politicised.
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Jonathan Sheikh-Miller, Deputy EditorSunday, December 30 - 2007 at 14:55 UAE local time (GMT+4)
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