Fiona MacDonald and Matthew Brown - “Gulf States May End Dollar Pegs, Kuwait Minister Says”
http://www.bloomberg.com/apps/news?pid=20601087&sid=aKafZEdY2xF8&refer=worldwide
Gulf States May End Dollar Pegs, Kuwait Minister Says
Fiona MacDonald and Matthew Brown | May 1, 2008
Gulf states are considering dropping their pegs to the dollar after the U.S. currency’s decline stoked inflation across the region, Kuwaiti Finance Minister Mustafa al- Shimali said.
“Yes, there are some” Gulf Cooperation Council states considering dropping their pegs to the dollar, which has fallen 13 percent against the euro in the last 12 months, al-Shimali said in an interview in Kuwait late yesterday without naming the countries. “Some countries will do what we are doing.”