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RE:get the facts right
by Jayesh Ved on Oct 03, 2007 08:31 PM

Gulf currencies do not have their own identity on the parameters of economic fundamentals. Yes they have oil exports but currency fluctuations are subject to much above this lone feature of their economy. GCC currencies are pegged to US$ and behave in propotion to US$ behaviour. so if UAE dirham has slid to 10.50 it is just the reflection of $ slid.


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