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Author Topic: Syria ALSO drops the US dollar  (Read 486 times)

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Offline Matthew

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Syria ALSO drops the US dollar
« on: June 06, 2007, 09:13:26 AM »
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    • Syria Drops U.S. Dollar Peg, United Arab Emirates Might Follow
    June 6th, 2007

    Via: Gulf Times:

    The UAE may be the next Middle Eastern country to stop pegging its exchange rate to the US dollar, according to trading in currency forwards.

    The second-largest Arab economy may follow Syria and Kuwait, which both said in the past two weeks that they would dump the dollar peg to curb rising import costs and inflation.

    Middle East currencies have been dragged lower by declines in the dollar, pushing up the cost of imports from Europe and Asia.
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    Offline gladius_veritatis

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    Syria ALSO drops the US dollar
    « Reply #1 on: June 07, 2007, 06:10:03 PM »
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    • Wunderbar news, mate!  

    Anyone know of a nice-sized cave, maybe next to some secluded, fertile acreage?
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    "Fear God, and keep His commandments: for this is all man."
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