13.11.2008 - GCC not ready to float currencies

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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