The UAE will hold off for now on a common Gulf currency, said Vice President Sheikh Mohammad bin Rashed al-Maktoum said.

'We will not change anything for the time being until we see something solid and profitable,' Sheikh Mohammad, who is also the ruler of Dubai, said in an interview, while defending the dirham's peg to the dollar.

'We thought of the Gulf currency and we said -- the UAE said -- 'not yet,' and I think they are right,' he was quoted as saying in our sister publication, the Gulf Daily News. – TradeArabia News Service