VOL. XXX
NO. 17
2-FEBRUARY-1987
Financial and Banking News
REGIONAL BANKING
GCC Agrees in Principle on Currency Alignment
At a meeting in Abu Dhabi last week the Central Bank governors of the six GCCstates agreed in principle to establish a currency alignment system along thelines of the European Monetary System (EMS). The system would fix cross-ratesbetween the six local currencies and establish intervention bands which woulddetermine at what point the regulatory authorities would intervene in...
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