arh777
03-27-2005, 07:50 AM
Times of Oman - 27/03/2005
MUSCAT — The Gulf economies smile as the dollar looks gradually recovering from profound losses created by worries about US current account deficits and its impact on the global economy, economists and bankers said here yesterday.
Though the exchange rate indices of Gulf currencies have been exhibiting a declining trend since 2003, last week's rise in the dollar apparently created a renewed confidence among businesses and traders in the region.
"Of course, rapid dollar meltdown has been a serious concern for the six-member Arab Gulf states, but the fall was seen as a wake-up call for governments to take the policy actions needed to challenge imbalances, if any, and to strengthen their economies," banking gurus told Times Business.
http://www.menafn.com/qn_news_story_s.asp?StoryId=85359
MUSCAT — The Gulf economies smile as the dollar looks gradually recovering from profound losses created by worries about US current account deficits and its impact on the global economy, economists and bankers said here yesterday.
Though the exchange rate indices of Gulf currencies have been exhibiting a declining trend since 2003, last week's rise in the dollar apparently created a renewed confidence among businesses and traders in the region.
"Of course, rapid dollar meltdown has been a serious concern for the six-member Arab Gulf states, but the fall was seen as a wake-up call for governments to take the policy actions needed to challenge imbalances, if any, and to strengthen their economies," banking gurus told Times Business.
http://www.menafn.com/qn_news_story_s.asp?StoryId=85359