Udhay Shankar N wrote: [ on 12:29 PM 6/4/2007 ]
Another data point:
http://articles.moneycentral.msn.com/Investing/JubaksJournal/KuwaitKicksSandOnTheDollar.aspx
The U.S. dollar took a big hit last week. From
Kuwait. On May 20, Kuwait stopped pegging its
currency, the dinar, to the U.S. dollar.
The UAE is pondering this too.
http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/business/2007/November/business_November460.xml§ion=business
UAE to review peg to dollar, says Suweidi
BY LUCIA DORE (Assistant Editor, Business)
16 November 2007
DUBAI The likelihood that the UAE will move
away from the dollar peg to a basket of
currencies has increased, following the comments
made by the Central Bank governor, Sultan bin
Nasser Al Suweidi in South Korea yesterday.
Speaking to Bloomberg, Al Suweidi said: "It's not
my prediction but everybody is expecting that the
US dollar will go down further. It will trigger a
review." He also said that the plan is "not to
drop the dollar-peg but maybe to reduce it to a
basket which will consist of more dollars, but not totally 100 per cent"
<snip>
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((Udhay Shankar N)) ((udhay @ pobox.com)) ((www.digeratus.com))
