Reymar
07-14-2006, 06:52 AM
"The United Arab Emirates’ central bank governor has confirmed a strategic decision had been taken to shift 10 per cent of its $29bn foreign exchange reserves into euros, denying, however, that the move was prompted by political motives.
In an interview with the Financial Times, Sultan Bin Nasser Al-Suwaidi, also predicted that Gulf Arab countries would move from the dollar peg to a floating exchange rate after the introduction of a single currency, which is planned for 2010."
http://www.ft.com/cms/s/b0e5426e-1292-11db-aecf-0000779e2340,_i_rssPage=fc3334c0-2f7a-11da-8b51-00000e2511c8.html
In an interview with the Financial Times, Sultan Bin Nasser Al-Suwaidi, also predicted that Gulf Arab countries would move from the dollar peg to a floating exchange rate after the introduction of a single currency, which is planned for 2010."
http://www.ft.com/cms/s/b0e5426e-1292-11db-aecf-0000779e2340,_i_rssPage=fc3334c0-2f7a-11da-8b51-00000e2511c8.html