Browse
related articles
Dirham's dollar peg down 40%
- United Arab Emirates: Tuesday, March 04 - 2008 at 00:05
The dollar has lost 40% of its value since 2002, hitting the dirham pegged currency. With inflation now rampant in the UAE, Mary Nicola, an economist at Standard Chartered, told delegates at the MEED Dubai Megaprojects that the government should revalue the currency by 20%. Nicola, who said dropping the dollar peg in favour of a basket of currencies would be preferable, said 8-10% was more likely. '[That] is enough of a response to soak up some of the liquidity in the market. Forty per cent is too much, it would shock the system.'
Also consider reading:
Today's top stories
Week's top stories
Digg
Facebook
LinkedIn
Twitter
Browse
related articles
Rob Jones, Editorial DirectorTuesday, March 04 - 2008 at 00:05 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
Disclaimer:
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / Emap Limited and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / Emap Limited can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / Emap Limited.
In no event shall AME Info FZ LLC / Emap Limited be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
It looks like you are using a Mac - check out our 
Web Feeds