Deutsch Bank is expected to raise the value of Dram UAE in 2007

Deutsch Bank said on Thursday that the United Arab Emirates will allow the dirham rise against the dollar this year after the announcement of the postponement of the expected monetary unit of the GCC countries. It meets officials from central banks Gulf Cooperation Council states on Saturday and Sunday in the Saudi capital Riyadh for the first time since the currency's peg abolished Kuwait dinar dollar in May. The six countries have agreed in the past to stabilize exchange rates of their currencies against the dollar even start work currency consolidated in 2010. He said Deutsch Bank in a research note Thursday, "We expect to make Dram step in later this year and postpone a declaration officially start work currency consolidated decision in 2010." The official UAE Central Bank Governor Sultan Nasser Swedish repeatedly any change in the policy books at 3.67275 firm against the dollar since November November 1997. He said Deutsch Bank in June, is likely to allow Dram Emirates altitudes up to three% over the next three months. Doubts arose about the deadline for action currency consolidated since Oman announced last year that it will not join it by 2010. He said that some elements of Swedish monetary unit will be ready by the year 2010. He said Bahrain's Central Bank Governor Rasheed Mi'raj Qabbani: Wednesday that a decision on any postponement due to the rulers of the Gulf Cooperation Council, and not to officials of central banks. He said Deutsch Bank also "resolution adopting a common currency would be a political decision ultimately However, the postponement of economic chatter grows stronger." "We believe that this decision will be taken against the backdrop of historically high levels of inflation region ..." The inflation in Saudi Arabia, its highest level in seven years in July by 3.83%, the highest level in two and a half Amman by 5.9 per June, 12.8% in Qatar end of the second quarter. The data showed that the Kuwaiti annual inflation rose to the highest rate in 12 years in April, May and April before retreating to 4.36% in June, the first full month the trail dinar price basket of currencies after the cancellation of linking the dinar to the dollar May 20 May. In the UAE Ministry of Economy said that inflation was 9.3% in 2006 is the latest data available. Kuwait said that it has breached the Gulf Cooperation Council states on the other linking the currency because the decline in the dollar against other currencies the dollar raises the cost of some imports. He said Deutsch Bank "at the time it is too early to determine whether raising the value of Kuwaiti currency has succeeded in curbing inflation .. Under the advent of most Gulf imports from Europe, the strength in the currency will help curb inflation caused by imports." He said CALYON Bank Credit Agricole headquartered in Paris that about 38% of imports come from the Kuwaiti euro area compared with 39% for the Emirates and 51% of Qatar