Common Currency For The Gulf
CURRENCY NEWS
Six members of the Gulf Cooperation Council (GCC) last week announced plans for a single currency--although they have not yet announced a timetable for its introduction.
The GCC also outlined details of a common tariff for the region, with the aim of developing a trade agreement with its largest trading partner, the European Union.
The currencies of five member countries in the GCC--Saudi Arabia, Oman, Qatar, Bahrain and the United Arab Emirates--are all currently pegged to the dollar. The sixth
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