Gulf central banks plan single currency reserve

Gulf central banks are creating a reserve to support the single currency that is on track to be launched by 2010, the UAE Central Bank governor has said.

But although technical issues have been resolved, the six Gulf states have not yet resolved political issues, he said.

'In order to support the unified Gulf currency, the central banks are creating a Monetary Authority Reserve. The reserve is going to be equivalent to four months of imports of each GCC country,' Sultan Bin Nasser Al Suwaidi, UAE

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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