The US stock market almost wiped out his retirement account, but retired pilot Ronald Scarpa hasn't lost his taste for risk. Lately he has turned to one of the chanciest investments in the world - the Iraqi dinar.
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.
Singapore revalued its currency on Wednesday, a move that propelled its dollar to a 20-month high and lifted Asian currencies by reinforcing market expectations China could soon unshackle its yuan.
Singapore's central bank said the eco
A Saudi council that advises the king is likely to accept a recommendation to revalue the dollar-pegged riyal as a measure to fight inflation, although any decision rests with the monarch, one of the members said.
An internal committee of
Gulf Arab states will not revalue their currency pegs to the weak dollar despite soaring inflation, and plan to stick to a deadline for currency union by 2010, the chairman of a meeting of finance ministers said.
Dollar pegs in all Gulf st
The United Arab Emirates has no plans 'at this time' to revalue its currency against the weak dollar, the country's central bank governor said in remarks published on Friday.
'There is no intention at this time to revalue the dirham agains
Saudi Arabia will probably keep its currency pegged to the dollar at the same value for the foreseeable future because factors other than trade, like rents and food, are driving inflation, Deutsche Bank said in a report.
Nearly half of firms surveyed in Saudi Arabia last month expected inflation to have a negative impact on their business and a third said they would pass on higher costs, SABB bank said.
In the survey, which showed high business confidence,
The United Arab Emirates, the second-largest Arab economy, is 'most likely' to revalue its dollar-pegged currency in a bid to control inflation, the Dubai Chamber of Commerce and Industry said in a report.
'It is therefore most likely that
Bahrain's Crown Prince said on Saturday that even talking about revaluing the local currency against the dollar is irresponsible and the country had no plans to adjust the value of the dinar.
Speaking to Reuters on the sidelines of the Wor