Sunday, May 20, 2007

Kuwait Ends Currency Peg to Dollar, Moves to Basket of Currencies

(Bloomberg) -- The Central Bank of Kuwait ended its
currency peg to the dollar, moving to a basket of currencies, the
Kuwaiti state-owned news agency said, citing the central bank. The
dinar appreciated by 0.37 percent against the dollar.

The central bank will adopt an exchange rate ``based on a
basket of major world currencies,'' the KUNA news agency said.


Read more at Bloomberg Currencies News

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