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.'
Related Content
Article Options
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 »
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
