(2) The Swiss have now depegged
the franc from the euro, and the November 2014 gold referendum failed to be passed (Ed.).
Spot yuan is still up 8.2 percent since it was officially depegged
from the dollar and allowed to float within a range set by the central bank in June 2010.
<span style="mso-spacerun: yes;"> </span>When it depegged
from the dollar on June 20, it probably would have had to diversify out of some of its dollar-dominated assets into euro-denominated assets, thereby buying up euros.
But the currency has only risen around 3.5 percent since it was depegged
The yuan rose 1.35 percent in the nine trading days to September 21, hitting levels above 6.70 per dollar for the first time since Beijing depegged
it from the dollar in 2005.
Oman opted out in 2006, preferring to pursue a unilateral economic policy., and Kuwait depegged
from the dollar in 2007.
Previously, foreign investors deposited funds into the UAE's banks in the hopes that the dirham would be depegged
from the dollar, and the value of the dirham would rise.
Some described the policy adopted since 2003, especially since 2005 when the Renminbi (China's currency) depegged
from the US dollar and embarked on the road of appreciation, as "self-destruction".
Speaking in Doha on Sunday, Paulson said: "You can look at Kuwait, they depegged
to a basket of currencies (but) they have the same inflation ...
In May 2007, Kuwait depegged
its currency from the dollar and reverted back to a currency basket regime in which the dollar still holds a predominant weight.
China's central bank, which keeps the currency on a tight leash, let the yuan rise yesterday to its highest level since it was revalued and depegged
from the dollar in July 2005.
The central bank, which keeps the yuan on a tight leash, let the currency rise yesterday to 7.1532 per dollar, the highest level since the yuan was depegged
from the dollar in July 2005 and allowed to float within managed bands.