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UAE sticks to dollar
- United Arab Emirates: Saturday, March 22 - 2008 at 07:51
According to the UAE Central Bank, there is no committee to review the dirham's peg with the US dollar and there is no immediate plan to revalue the dirham, cited Gulf News. The UAE lowered its interest rate last week after the US Fed slashed interest rates from 3% to 2.25%. The US has cut rate since September to bolster money supply amid credit crunch.
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