-
- View Center
- Economic Research
- Market Strategy
- Critical Issues
- Region
- Topic
-
Log In
Log In to Your Account
You must be logged in to access premium content.
If you are a client, please login now.
If you are a new user, please click here to register.
If you have a Client Code, please enter it here to activate your client account.
Roubini Global Economics, LLC has revised its Terms of Use and Privacy Policy, effective October 1, 2009. A summary of the changes is here. If you do not agree to these changes, please cancel your account immediately. Failure to cancel your account within 30 days of the first time this notice is presented to you will mean that you agree to the changes.
Briefing
GCC: Exchange Rate Regimes
Appears in:
Frontier Markets, Middle East and Africa, Macroeconomy, Markets, Gulf Cooperation Council, Saudi Arabia, Currencies, Energy Security and Policy, Monetary Policy and Inflation
Critical Issues
Background:
GCC currencies have long-standing links to the U.S. dollar. Kuwait exited its dollar peg in 2007, pegging instead to a basket in which the dollar dominates but the other countries maintain the pegs. While granting some macroeconomic stability, these pegs limit monetary autonomy as it implies that the real interest rates in the region are linked to U.S. rates. GCC countries have planned to create a monetary union loosely modelled on that of the EMU, but two of the six countries (Oman and UAE) have demurred from the process and the others have sought a deferral. Yet, officials have placed revaluation against the U.S. dollar off the table for the forseeable future.
If you are an RGE client please log in to your account.
Access to this content is restricted to RGE clients.
If you have a client code, please enter it here to activate your client account.
Click here for a free trial.
Learn About Our Services:
Our dynamic and intuitive research platform keeps you on top of the extraordinary shifts that transform our global economy, allowing users to uncover unique connections and insights. Discover the resource central banks and that 70% of the world's leading hedge funds, asset managers, PE firms, banks and corporations around the world depend on.
RGE market strategists build on the work of our macroeconomic research team, incorporating market dynamics to answer crucial questions and generate actionable investment recommendations. RGE's Market Research and Strategy team gives clients actionable insight across six key asset classes:
• Currencies • Commodities
• Credit • Equity • Gov’t Bonds / Rates
• Emerging Markets • Financials
• Cross Asset Model Portfolio
Sometimes, reading research is not enough. Many RGE clients participate at the Roubini Direct Access level to gain a deeper understanding of specific issues. Through interactive live sessions, we engage with world-class thinkers, encourage knowledge sharing, idea generation, risk identification and validation of client initiatives.
Associated Readings
News
Financial Times
Jun 08, 2009
Gulf states sign agreement on monetary union
News
Arabian Business
Jun 08, 2009
2013 more realistic for Gulf monetary union - analysts
News
Forbes
May 05, 2009
GCC leaders choose Riyadh to host regional bank
Analysis
Standard Chartered Middle East Daily
May 20, 2009
UAE Withdraws from Monetary Union
News
Financial Times
May 06, 2009
Riyadh set as Gulf region’s central bank base
News
Bloomberg
May 05, 2009
Gulf Arab Leaders Decide on Riyadh for Central Bank
News
The National
May 04, 2009
GCC leaders to decide on site of Gulf central bank
Analysis
Peterson Institute for International Economics
April 2009
The GCC Monetary Union: Choice of Exchange Rate Regime
News
Zawya Dow Jones
May 05, 2009
MARKET TALK: Gulf Ctrl Bk May Be In Saudi Due To SAMA
News
Zawya Dow Jones Newswires
Dec 30, 2008
GCC Monetary Union Pact To Enter Into Force By Dec '09
Analysis
National Bank of Kuwait
Sep 28, 2008
Interpreting GCC Finance Ministers’ Agreement in Jeddah
Analysis
Dubai International Financial Centre
September 2008
The Institutional Framework of The Gulf Central Bank
Analysis
The Peninsula
Sep 17, 2008
Gulf Central Bank soon to be operational
Analysis
Citigroup
Sep 10, 2008
GCC: Monetary Council will have to manage diverging goals
News
Khaleej Times
Jan 14 2007
GCC mulls Fed model
Analysis
Financial Times
Sep 18, 2008
Gulf states approve monetary union plan
Analysis
National Bank of Kuwait
September 2008
What would a Gulf Monetary Authority look like?
Analysis
Dubai International Financial Centre
January 2008
Payments to support economic growth and international integration in the GCC and MENA
RESEARCH AND STRATEGY FIXTURES
  |
 |
Top 10 Most Read
Featured Economic Research and Market Strategy
Related Articles
Featured Analysis
The EZ Crisis Resumes: What Are the ECB’s Options?
“Taking stock of the liquidity conditions after the two 3y LTROs in advanced economies, we note that the ECB’s balance sheet has still expanded significantly less than that of the Fed or Bank of England.”
FEATURED @ RGE
ROUBINI FEEDBACK FORUM
What Do You Think?
Weigh in on Roubini.com's new look or report any problems you encounter.