(Bloomberg) -- The United Arab Emirates may be the
next Middle Eastern country to stop pegging its exchange rate to
the U.S. 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.
Read more at Bloomberg Emerging Markets News
next Middle Eastern country to stop pegging its exchange rate to
the U.S. 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.
Read more at Bloomberg Emerging Markets News
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