With some of the Gulf currencies under pressure from speculators, are the pegs facing their sternest test?
This time, however, energy prices are at historic lows and the coronavirus outbreak has unleashed recessions that are squeezing government budgets like never before.
Although the decades-old currency pegs of the Gulf Arab region often come under strain in depressed oil markets, they always have survived.
Source: washington post
Summary automatically generated by NewSUM A.I. from the following sources:
- Why Gulf Dollar Pegs Are Strained by Oil and Virus: QuickTake (washington post)
- Why Gulf Dollar Pegs Are Strained by Oil and Virus (washington post)