Posted by: qmaxim | December 8, 2007

Foreign exchange rates

UAE has decided not to change exchange rate w.r.t. USD along with other GCC states.
I can understand the decision not to move from Dollar peg but can’t understand why
rate could not be changed.
Those of us from other countries like India, UK etc it is pretty bad
*- INR has appreciated by 12% this year alone
* – Relentless inflation and cost of living expenses imposed by the govt agencies

Places like S’pore govt keep a tight lid on living expeneses of common people to
make it attractive for investment

I will be pleased to hear your views

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