The Gulf's oil-exporting states are reluctant to consider abandoning their currency pegs partly because their central banks' research capabilities are not strong enough to analyse the change, Newsweek quoted a Gulf central banker as sayi
Bahrain is committed to the peg of its dinar currency against the US dollar, central bank governor Rasheed Mohammed Al-Maraj said on Tuesday.
"We will continue the peg," Al-Maraj told an economic conference. He said the
Saudi Arabia's financial markets barely blinked on Thursday after its debt was downgraded - a sign that a charm offensive by Saudi economic officials, and determined action against speculators, have bought it time in the eyes of many investo
Saudi Arabia's central bank governor said on Monday recent volatility on its currency in the forwards market is due to speculation based on unrealistic expectations.
The Saudi riyal hit a record low on January 7, amid renewed
Malaysian Prime Minister Najib Razak said on Thursday he would not peg the ringgit to the US dollar or implement capital controls as he sought to calm fears about the sliding currency and capital flight from Southeast Asia's third-largest ec
Qatar remains fully committed to its currency peg to the US dollar and is not reviewing its currency policy, central bank governor Sheikh Abdullah bin Saud Al-Thani said on Wednesday.
"We are fully supporting the peg and will
An advisory body to the UAE government has suggested that the central bank review the country's currency peg to the US dollar, but local bankers said any change to the peg remained very unlikely for the foreseeable future.
The United Arab Emirates will keep its currency peg to the US dollar even after Standard & Poor's downgraded the world's biggest economy, and Oman sees no risk in investing in US treasuries, officials said on Sunday.
Gulf central banke
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.
Bahrain's central bank sees no need to change its currency peg to the US dollar despite the greenback's weakness and expects the country's economy to grow by 3-4 percent this year, its governor said on Tuesday.
"We have repeatedly said our