The UAE dirham fell to its lowest against the US dollar in more than a year in the one-year forwards market on Thursday, as speculation grew that slumping oil prices would lead Gulf states to ditch their currency pegs to the dollar.
UAE one-year currency forwards fell to an 11-month low on Monday helped by improved liquidity in the banking system, indicating the Opec member's dirham would keep near its US dollar peg.
One-year dirham forwards edged down to -5
UAE's one-year currency forwards fell on Monday after climbing to a nine-month peak earlier in the session due to fears over Dubai's debt, Reuters data showed.
One-year dirham forwards rose as high as 161 points on Monday, their hi