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Report: Emirates calls on GCC countries to depeg currencies from US dollar

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Anonymous Coward
User ID: 176444
7/6/2008 5:05 PM
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Report: Emirates calls on GCC countries to depeg currencies from US dollar
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[link to www.jpost.com]

A newspaper in the United Arab Emirates says the tiny Gulf state's government is lobbying neighboring countries to depeg their currencies from the US dollar to curb inflation.

The National, which is owned by the Abu Dhabi ruling family, reported Sunday that the UAE is calling on all six Gulf Cooperation Council member states to "rethink" their monetary policy amid soaring inflation in the oil-rich region.

It cited an internal report by Abu Dhabi's Department of Planning and Economy.

The GCC members are Saudi Arabia, Qatar, Kuwait, the United Arab Emirates, Bahrain and Oman. All of their currencies are pegged to the dollar except Kuwait, which depegged its currency, the dinar, from the dollar in May 2007 in favor of a basket of currencies.
Dervish
User ID: 442491
7/6/2008 5:12 PM
Re: Report: Emirates calls on GCC countries to depeg currencies from US dollarQuote

They may depeg, they may change the peg rate, they may do nothing.

All of the above are options that are possible and its just driving me nuts. Thanks for finding this op, things are a little too quiet on this side of the world on this issue.
the Christian riles and the Aryan smiles
and it weareth the Christian down

And the end of the fight
is a tombstone white
with the name of the late deceased --
and the epitaph drear:
"A fool lies here
who tried to hustle the East!"
-Rudyard Kipling
anonomous
User ID: 464001
7/6/2008 5:35 PM
Re: Report: Emirates calls on GCC countries to depeg currencies from US dollarQuote

so when are they going to get to pay 140' 00 a gallon for drinking water.opec is rather amazing since thier jihad strategy against the globe is what got them rich..wonder what would happen if thier investments worldwide started losing money for some social disatified reason..opec should simply be fired.if i had unruly workers who cased my costomers grief i would refund back the customers money..opec has crazed people who drive up tensions then opec sits back and get rich..and bankrupts the world..what kind of logic is this....that worldwide nations tolorate this manufactored crap any more.............sieze by privatize opec assets and bussinesses in all nations..oil prices will drop like a rock ... take away opecs reason to create chaos, to get richer...besides nations now need thoses assets..Hugo Chevaz privitized oil in his country and stole 33 Billion investment from Exon Mobile and BP...and got away with it.his people pay .50 cents a gallon for gas.or something like that ...
Kanigo2 Subscriber
User ID: 442313
7/6/2008 5:43 PM
Re: Report: Emirates calls on GCC countries to depeg currencies from US dollarQuote

Ty op, thought it was a little funny the source but that's AP.

Good find.
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Anonymous Coward
User ID: 461504
7/6/2008 7:10 PM
Re: Report: Emirates calls on GCC countries to depeg currencies from US dollarQuote

so when are they going to get to pay 140' 00 a gallon for drinking water.opec is rather amazing since thier jihad strategy against the globe is what got them rich..wonder what would happen if thier investments worldwide started losing money for some social disatified reason..opec should simply be fired.if i had unruly workers who cased my costomers grief i would refund back the customers money..opec has crazed people who drive up tensions then opec sits back and get rich..and bankrupts the world..what kind of logic is this....that worldwide nations tolorate this manufactored crap any more.............sieze by privatize opec assets and bussinesses in all nations..oil prices will drop like a rock ... take away opecs reason to create chaos, to get richer...besides nations now need thoses assets..Hugo Chevaz privitized oil in his country and stole 33 Billion investment from Exon Mobile and BP...and got away with it.his people pay .50 cents a gallon for gas.or something like that ...
 Quoting: anonomous 464001


Why would they pay 50 cents a gallon when they don't even have a car to drive?
Polynonymous Howard
User ID: 38097
7/7/2008 2:37 PM
Re: Report: Emirates calls on GCC countries to depeg currencies from US dollarQuote

bump
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