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Commodities Briefing - Categorized | Currencies, Market Moves more

GCC not ready to float currencies

Posted on 13 November 2008

From Gulfnews.com: Gulf countries are not yet ready to float their currencies or their unified currency as and when it happens, according to Jean-Pierre Beguelin, chief economist of Pictet, a Swiss private bank.

Beguelin argues that GCC countries, with their huge oil surpluses, would face severe upward (exchange rate) pressure on currencies if they decide to float……. Full Article: Source


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