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Image header Agence Europe
Europe Daily Bulletin No. 9233
Contents Publication in full By article 23 / 26
GENERAL NEWS / (eu) eu/euro/united arab emirates

14/07/2006 (Agence Europe) - In an interview with The Financial Times of 14 July, Sultan bin Nasser al-Suwaidi, Governor of the Central Bank of the United Arab Emirates, confirmed that his country has decided to keep 10% of its foreign currency reserves in euros in future. The timing for going from the dollar to the euro is still under discussion, he said, pointing out that this was a purely economic decision, taken after similar moves in other Gulf countries, and is in no way linked to the controversy in March with the United States on the subject of takeover of the P&O group by Dubai Ports World's. “The euro is the more prominent currency our people need to go on holiday, since the September 11 attacks made visa-granting [for US visits] more difficult”, he added.

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