Thread: Reval April 10th

Originally Posted by shotgunsusie

do you have a link for this conference fred?? this is what the phone call source was telling me about.

Doesn't have the exact date but states April.
The Peninsula On-line: Qatar's leading English Daily


Riyal peg to stay: Yousuf Hussein
Web posted at: 3/16/2007 8:28:26
Source ::: REUTERS
london • Qatar’s Finance Minister said yesterday that there were no plans to revalue the riyal nor delink it from the US dollar over the next year, further dampening speculation of a revaluation before Gulf states meet in April.

“I am saying I am not going to delink or revalue our currency against the US dollar. That is my message,” H E Yousuf Hussein Kamal said on the sidelines of an investment conference in London. The Minister said he was being asked constantly about plans for the currency and whether there might be a change to the current policy or a revaluation.

“We are thinking about it but it is not today, not tomorrow, not this year, not next year,” the Minister said. Speculation about a region-wide currency revaluation has increased since January after the United Arab Emirates said the six Gulf states could decide in April whether to keep or change their exchange rate regime. Asked if he though the riyal, which is pegged to the US dollar, was undervalued, Yousuf Hussein said: “No.”

Governors of the Gulf central banks are scheduled to meet in Riyadh, Saudi Arabia in April to discuss their proposed monetary union. The monetary union is scheduled to be implemented by 2010. The decline in the value of the US dollar has helped fuel inflation in some of these GCC countries because it drives up the cost of imports in the region where some countries pay for half their imports in euros and yen.


This one says from April 3
Gulf Times – Qatar’s top-selling English daily newspaper - Finance & Business