No 42



Kuwait To Adopt Dinar-Dollar Link From 2003

The Kuwaiti Government announced on 13 October that it would start fully linking the dinar to the dollar at the beginning of next year. The move, which ends a 27-year old policy, is a step towards the six GCC countries plans to adopt a single currency by 2010. The currencies of the other GCC members, Saudi Arabia, UAE, Qatar, Bahrain and Oman are already tied to the dollar. Since 1975, the Kuwaiti dinar has been...