China's central bank said on Sunday it would keep the yuan at a reasonable, basically stable level, and that there will be no one-off revaluation, after the government said it would make the currency more flexible.
China said on Saturd
The United Arab Emirates has no intention to revalue its currency or the drop the link to the US dollar, the country's central bank governor said.
Sultan Nasser Al-Suweidi said any such decision would be based on the interest of the Gulf A
The Gulf's once red-hot Islamic bond market is coming back to life after a nine-month lull as sellers look to benefit from talk of Gulf currency revaluation and rock-bottom interest rates, bankers said.
Still, with more of the bonds priced
Saudi Arabia could face internal pressure to revalue its dollar-pegged currency as inflation in the world's largest oil-exporter soars to a 30-year peak this year, a Saudi investment bank said on Monday.
Inflation in the largest Arab econo
The United Arab Emirates has no plans to drop or revalue its currency peg to the dollar, central bank governer Sultan Nasser al-Suweidi said on Monday. His comments follow pressure from various quarters to drop the dollar peg to contain the soarin
Gulf Arab states are more likely to revalue their dollar-pegged currencies unilaterally the longer plans to introduce a single currency are delayed, US investment bank Morgan Stanley & Co said.
Saudi Arabia, the United Arab Emirates an
Gulf states would consider revaluing their dollar-pegged currencies together at some stage to tackle rising inflation, Qatar's finance minister said.
'Our concern is to control inflation,' Youssef Hussein Kamal said, ruling out a unilatera
Gulf Arab oil producers could revalue their currencies together if the US dollar weakens further, with appreciations of 8 percent in the UAE dirham and Saudi riyal likely before April, Standard Chartered said.
Markets piled pressure on Gul
The United Arab Emirates was 60 per cent likely to revalue its dollar-pegged dirham unilaterally or in conjunction with other Gulf oil producers in the first half of next year, an investment bank has predicted.
The UAE could allow its dirh
Saudi Arabia will not revalue its currency, Foreign Minister Prince Saud Al-Faisal said on Tuesday.
He was responding to a question about whether Gulf Arab finance ministers would meet to discuss revaluation.
Gulf finance min