You know the Iraqi government and the Central Bank of Iraq, Ministry of Trade, Ministry of Interior is watching how this is going to be played out.
Iraq’s plans are developing slow but developing…
Kuwait City/Dubai: Kuwait’s central bank said that it may take unspecified measures to curb speculation in its dinar, firing a warning shot as speculators buy the currency in the hope that the oil producer may revalue.
“Having huge inflows of capital is increasing the burden on us,” Nabeel al-Mannae, deputy governor of the Kuwait central bank, said in a telephone interview with Reuters on Wednesday. “We will make sure they won’t make money on our currency.”
Investors had been buying dinar forwards after Kuwaiti officials said they may revalue the unit, which, like other Gulf Arab currencies, is pegged to the dollar.
The central bank may “take necessary measures so that there will be no benefit from such speculative behaviour”, Mannae said in the earlier statement.
The bank is “unsatisfied with the increase in the volume of dinar purchases that do not have underlying commercial foundation and which are indicative of accumulation of speculative long dinar position”, Mannae said in the statement.