Thread: GCC countries should stop pricing oil in dollars - economist

GCC countries should stop pricing oil in dollars - economist

The Dubai International Financial Centre (DIFC) Authority has recommended GCC countries should move away from pricing oil in dollars towards a basket of currencies that would include the Chinese yuan, Muscat Daily has reported. "Indeed, I am in favour of using the yuan for clearing and settling all GCC trade with China, who has become our biggest trade partner," Dr Nasser H Saidi, chief economist and head of external relations of DIFC, told the daily .

http://www.ameinfo.com/272216.html?n...il%20and%20gas

Turkish Central Bank Sells Dollars on Lira Slide

http://www.bloomberg.com/news/2011-08-05/turkish-central-bank-may-sell-dollars-as-rate-cut-hurts-lira.html