(MENAFN- The Peninsula) Qatar remains fully committed to its currency peg to the US dollar and is not reviewing its currency policy, central bank governor H E Sheikh Abdullah bin Saud Al Thani said yesterday.
"We are fully supporting the peg and will not re-examine this policy...This has been our policy for years and will stay the same," he told Reuters on the sidelines of the 61st meeting for GCC committee of central banks and monetary institutions governors opened here yesterday to discuss number of issues and recommendations.
Sheikh Abdullah opened the event with a speech focusing on efforts to unify GCC monetary and financial policies against continuous global challenges such as growing unemployment rate.
Stressing the importance of the meeting, Sheikh Abdullah said the meeting is happening amid global changes that had negative impact on the global economy and led to a decline in growth rates and an increase in unemployment levels in most economies of the world, except in the US. The financial markets are volatile, dollar is rising oil prices are falling.
The QCB Governor noted that major central banks around the world have adopted expansionary monetary policies bolstered by quantitative easing programmes to recover their economies.
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