Omar Bin Sulaiman, governor of the Dubai International Financial Centre, talked with Bloomberg's Will McSheehy in Dubai about the possibility that the United Arab Emirates and other countries in the Gulf region will revalue their currencies against the dollar.
Gulf states are under pressure to end their currency pegs to the dollar after the U.S. currency fell 10 percent against the euro in 2007. Inflation in the region is accelerating at the fastest pace in at least five years as the weak dollar drives up import costs. (Source: Bloomberg)
It looks like international investors are avoiding the dollar and are pleased with their strong currency status.
More on http://www.peterdag.com/.
George Dagnino, PhD
Editor, The Peter Dag Portfolio
Since 1977
1 comment:
What is your opinion on the strong bond performance? Is it too late to buy bonds?
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