UAE to keep dollar peg
United Arab Emirates: Thursday, April 10 - 2008 at 07:58
The UAE said it will keep the dirham pegged to the dollar without any revaluation after a review of the currency system by a committee set up to examine the dollar link, reported Bloomberg. The panel recommended keeping the link to the U.S. dollar without any change in the official exchange rate or a revaluation, according to a statement on Web site of the state-owned Emirate News Agency. The suggestion has the support of Prime Minister Sheikh Mohammed bin Rashid al-Maktoum.
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Jeff Florian, Senior ReporterThursday, April 10 - 2008 at 07:58 UAE local time (GMT+4)
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