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Gulf states may revalue their currencies to confront the implications of the weak dollar
2010-11-02 14:11:02
Director of the Arab Monetary Fund warns the transmission of currency to the region

Kuwait – AFP

The Director-General of the Arab Monetary Fund Jassim Al Mannai said the weak dollar may prompt the Gulf Cooperation Council Gulf to revalue currencies associated mainly green currency.

The director of the Fund which is based Abu Dhabi on the sidelines of the Kuwait Financial Forum “Our region does not enjoy immunity with the war currency Because of the dollar peg.

“He added that” such a war would have an impact on the economies of Arab countries Especially because of high inflation and other problems.

“He said that” if the dollar continues to decline, it Could push the Gulf states to revalue their currencies, I believe that the GCC countries will certainly Search “The question of the impact of the weak dollar on their currencies.

Currencies are linked to five countries of the GCC is Saudi Arabia and United Arab Emirates, Bahrain, Qatar and the Sultanate of Oman, the dollar exclusively, while linked to the currency of the sixth country, Kuwait, A basket of currencies, the dollar is between 70 and 80% of them.