Qatar rules out change in dollar peg policy
Washington, October 21, 2007
Qatar is satisfied with the value of its riyal currency and sees no need to change its peg to the sliding US dollar, the finance minister was quoted as saying.
"Why should I change the peg when 100 percent of my exports and products are in the US dollar?" the Gulf Times newspaper quoted Youssef Hussein Kamal as saying in Washington.
The riyal is at its "real value", paper quoted him as saying, without being more specific.
Central Bank Governor Sheikh Abdullah bin Saud al-Thani said Qatar had no plans to revalue the riyal, according to the paper. -Reuters