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UAE Could Revalue Dirham as Early as Sunday -Report - ASHARQ AL-AWSAT English Archive
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DUBAI (Reuters) – The United Arab Emirates could allow its currency to appreciate between 3 and 5 percent as early as Sunday, a Dubai-based magazine reported, citing unidentified sources close to the central bank.

“The plan is to make an announcement when the banks are closed – National Day is an option, and if not National Day then the Eid holidays later in December,” a source said, according to the Web site of Arabian Business on Wednesday.

The UAE celebrates the National Day holidays on Sunday and Monday.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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