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UAE cbank denies move to change dollar peg

ABU DHABI, November 30, 2014

The fixed peg of UAE dirham against the US dollar will remain in place, the UAE Central Bank Governor Mubarak Rashid Khamis Al Mansouri has reiterated.

Reacting to media reports regarding a study on the dirham’s peg to the US dollar, he said they are not true, according to a Wam report.

He said in a statement that fixing and safeguarding the official exchange rate of the dirham fell within the purview of the Central Bank’s Board of Directors.

It should be noted in this regard that the national economic indicators strongly support the continuation of the fixed peg regime. This exchange rate policy has contributed to maintaining economic stability and bolstering investors’ confidence over the long period it has been in effect, Wam said.




Tags: UAE | Central Bank | Dollar |

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