Oman remains committed to the peg of its rial currency against the US dollar, the head of the central bank said on Tuesday, after the rial dropped to its lowest level in the forwards market for a decade.
Low oil prices are hurting
Bahrain is committed to keeping its dinar currency's peg to the US dollar, a senior official at the kingdom's central bank said on Monday.
"The peg will remain," Ebtisam Al-Arrayed, head of regulatory policy at t
An Opec market share competition could push oil prices lower, increasing pressure on GCC pegs, but the core GCC USD pegs, including that of Saudi Arabia, are likely to hold at current oil prices, a report said.
The continuing larg
While the annual global issuance of sukuk has grown at a compound annual growth rate of 38 per cent to $81 billion in 2012, up from $3.3 billion in 2002, the market is likely to maintain its positive long-term growth trends, a report said.
A statement on foreign exchange policy by Qatar's central bank governor has struck a nerve in financial markets across the Gulf, reminding investors that decades of currency stability will not last forever.
Bahrain needs to rethink having its currency pegged to the US dollar in order to minimise the risks arising from a slowing American economy, said a top banking expert.
Swiss private bank Bank Sarasin's chief investment officer
Jordan has no plans to revalue its dinar currency or sever the currency's peg to the US dollar and will maintain a tight monetary policy to preserve the attractiveness of dinar-denominated assets, the central bank deputy governor said.
Bahrain will keep its currency peg to the dollar despite Standard & Poor's US rating downgrade, the kingdom's central bank governor said in remarks published on Tuesday.
"The exchange rate policy followed suits our economic situation,"
The United Arab Emirates will keep its US dollar peg in the aftermath of S&P's downgrade of the world's biggest economy, a central bank official told Reuters on Sunday, and saw no credit risk in investing in US treasuries at present.
Oman's central bank is likely to keep its policy stance accommodative to boost confidence in the non-oil sector, although inflation may rise due to government spending to rein in social tensions.
The Sultanate, hit by social unrest ea