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Bahrain rules out currency revaluation

Davos, January 26, 2008

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 World Economic Forum, Shaikh Salman bin Hamad Al Khalifa said Bahrain's economy will grow around 7 per cent this year and he was not concerned by the dollar's recent fall.

'Even talking about revaluation is irresponsible, and very counter-productive. We have no intention of revaluing - plain, black and white,' Shaikh Salman said.-Reuters




Tags: Bahrain | Currency | Dollar | revalue | Crown prince | Davos |

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