Newspaper: Kuwait does not see the need to return to the dollar peg
Sun Sep 27, 2009 6:35am GMT Sun Sep 27, 2009 6:35 am GMT
KUWAIT (Reuters) - Kuwait's central bank governor said in remarks published on Sunday that Kuwait does not see any interest in linking its currency once again the U.S. dollar.
"Sheikh Salem Abdulaziz Al-Sabah daily newspaper Awan" I would like to emphasize that we do not see calling or interest at this stage can be achieved to abandon its current policy of pegging the dinar to a basket of currencies especially the most important business and financial partners of the State of Kuwait. "
Kuwait was the world's fourth-largest oil exporter, which paid one-third of its imports in euros EU has emerged on the policy of other Gulf Arab states in 2007 and dropped its peg to the dollar to help fight inflation, which had risen sharply.
On Sunday, the newspaper quoted central bank chief as saying that it is expected that the annual inflation rate remains below five percent until the end of the year.
The latest government data, inflation was 5.9 percent in February.
Sun Sep 27, 2009 6:35am GMT Sun Sep 27, 2009 6:35 am GMT
KUWAIT (Reuters) - Kuwait's central bank governor said in remarks published on Sunday that Kuwait does not see any interest in linking its currency once again the U.S. dollar.
"Sheikh Salem Abdulaziz Al-Sabah daily newspaper Awan" I would like to emphasize that we do not see calling or interest at this stage can be achieved to abandon its current policy of pegging the dinar to a basket of currencies especially the most important business and financial partners of the State of Kuwait. "
Kuwait was the world's fourth-largest oil exporter, which paid one-third of its imports in euros EU has emerged on the policy of other Gulf Arab states in 2007 and dropped its peg to the dollar to help fight inflation, which had risen sharply.
On Sunday, the newspaper quoted central bank chief as saying that it is expected that the annual inflation rate remains below five percent until the end of the year.
The latest government data, inflation was 5.9 percent in February.