Indian migrant workers in Bahrain are cashing in on a slump in the rupee, which hit an all-time low against the US dollar this week, a report said.
The currency has dropped in value by 16.5 per cent since May - making it more prof
Many Iraqis have lost faith in their dinar currency but to some foreign speculators, it promises big profits. The contrast underlines the uncertainties of investing in Iraq as the country recovers from years of war and economic sanctions.
The central bank's tight control over the foreign exchange market, and the possibility of other Gulf countries providing financial support, mean there is no threat to Bahraini dinar's peg against the US dollar, analysts said.
The Central Bank of Bahrain has alerted the public to be cautious when dealing with Bahraini dinar notes that have been defaced with written marks or drawings.
This warning is issued in order to avoid such notes being rejected when transac
Kuwait let its dinar currency rise 0.79 percent against the dollar on Sunday, the second-biggest one-day jump since it dropped its peg to the US dollar in May, and taking the cumulative gain to 8.29 percent.
The dinar will trade around a m
The Central Bank of Bahrain (CBB) will release new Bahrain banknotes for circulation on Monday (March 17).
The new banknotes are being issued in the existing denominations of BD20, BD10, BD5, BD1 and BD1/2. No change is being made to the c
Kuwait's actual state revenue in the first 10 months of the 2007/08 fiscal year stood at almost double the budget forecast.
Two months before the end of the year to March, revenue amounted to 15.35 billion dinars ($56.31 billion), compared
Kuwait let the dinar make its biggest one-day gain this year on Wednesday after the dollar slid to a record low above $1.50 to the euro on US data that signalled the world's largest economy is headed for recession.
Kuwait is the only Gulf
Kuwait allowed the dinar to rise against the dollar for a third day to a new 19-year high on Wednesday after the US currency extended losses on global markets.
The dinar will trade around a mid point of 0.27390 per dollar compared with 0.2
The governor of the Central Bank of Bahrain became rather vocal over the weekend as the dinar and other GCC currencies continue to come under pressure.
He accused foreign banks of unethically piling pressure on Gulf currency pegs with the