Oman Has No Plans to End Peg to Dollar (http://www.topforexnews.com/2007/11/23/oman-has-no-plans-to-end-peg-to-dollar/)

Hamud Bin Sangur al-Zadjali, the Central Bank of Oman Governor, spoke during European Banking Congress in Frankfurt today, speaking that Oman has no plans to end its peg to U.S. dollar.

Revaluation or any other monetary policy shifting will probably hurt Oman’s economy more than it will help.
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With the currently weak dollar, there aren't many advantages of the peg

But hopefully things will improve

Well, it's a favor in a way. We can use some help. So we appreciate it.

And the hope is on both sides that the crisis will end and keeping dollars will actually be beneficial to both sides...

Because if the American economy goes into a serious slide, it will end up hurting everybody.

We will see.

Well Oman is welcome to peg the Rial against the Canadian $.

We're worth more that the greenback is at present.

;)

We're sunbathing in a sinking ship.

The low USD is gonna benefit USA to be the world leading exporting country in future. Since they will have the cheapest products in market.

Thus, countries which are fixed with USD are only gonna buy american products. So no more of banning american products.


am not a business guy, but that what i think regarding teh issue.

^^

This is a VERY smart comment. And entirely true. We are already seeing hordes of Europeans coming here to shop cheaply for Christmas.

That's why free economies balance themselves out and heal themselves if you just keep your hands off and don't mess with them.

The danger is, people get scared and some individuals are hurt, so they push the government to "fix it", to "do something". And THAT's where the problems begin.

But a low dollar is the positive cure for whatever negative thing is causing the low dollar--Fahad is entirely right. The cure and the disease are one and the same.

offcourse Lowering the dollar value of another benifit.....
Cheaper OIL to USA ;)

going to USA is like going to Thailand.

yeah jeff,
most of my friends are planning to go either to china or USA because it is cheaper there now...

From Oman's Alwatan newspaper:


http://chatty.jeeran.com/p2.jpg

This is good for American Car fans in Oman, guess cars are cheaper now?