UAE studying dollar peg: Sheikh Mohammed - Emirates24|7

UAE studying dollar peg: Sheikh Mohammed


His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai said on Tuesday a committee reporting to him was studying the dollar peg issue but that the country remains committed to the fixed exchange rate for now.


"A committee is studying this position and they will report to me as prime minister... up to now we are still with the dollar," Sheikh Mohammed told reporters aboard a plane en route from Beijing to Shanghai.


"We are still with the dollar of course," added the ruler of Dubai.


Asked whether US economic turmoil would impact the UAE, the world's fifth-largest oil exporter, Sheikh Mohammed said: "It will affect many countries but it will not affect us, we are prepared for it." (Reuters)