let me clarify... i don't think they will let it float. they will peg to a basket, like Kuwait.
i think the government can afford this inflationary pressure, but many private companies can not in the long run (at least the small to medium ones). it's really affecting where i work, and we're having a hard time recruiting expats because of it.
Kuwait didn't wait for a common currency, and recent talk our of the UAE makes me wonder if they will wait.
i hope they repeg to a basket - i'm paid in QAR and am longer for the good old days of a canadian dollar worth 63 US cents.
___________________________________________
"Even a stopped clock gives the right time twice a day." Withnail & I
let me clarify... i don't think they will let it float. they will peg to a basket, like Kuwait.
i think the government can afford this inflationary pressure, but many private companies can not in the long run (at least the small to medium ones). it's really affecting where i work, and we're having a hard time recruiting expats because of it.
Kuwait didn't wait for a common currency, and recent talk our of the UAE makes me wonder if they will wait.
i hope they repeg to a basket - i'm paid in QAR and am longer for the good old days of a canadian dollar worth 63 US cents.
___________________________________________
"Even a stopped clock gives the right time twice a day." Withnail & I