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.
The United Arab Emirates' central bank said on Thursday it was confident there will be a compromise to avert a US debt default by an Aug. 2 deadline, adding that it holds no US Treasury bonds or US financial instruments.
Kuwait's central bank will issue KD60 million ($212.6 million) in one-year treasury bonds, with a coupon of 1.25 per cent on Wednesday, its data showed.
Bids reached KD409 million, central bank data showed on Monday.
The Central Bank of Jordan said on Thursday it sold 18-month Treasury bonds worth JD100 million ($141 million) with the average yield falling to 3.103 per cent from 7.336 per cent at its last 18-month issue in November 2008.
The Central Ba
Kuwait's central bank governor said yesterday (March 24) there was no need for now to reduce the Gulf state's benchmark discount rate further and that the bank was selling treasury bonds to absorb excess liquidity.
Sheikh Salem Abd