Nixon could either give up on issuing dollars and restrict war spending or go on by unpegging
the dollar from gold.
Summary: United Arab Emirates (UAE) Central bank governor Sultan Nasser al-Suweidi said the region has no intention of unpegging
its currency from the US dollar despite the latter's appreciation in value recently.
MANAMA: The unpegging
of Gulf currencies from the dollar would hurt local exports and not calm rising property rents in the GCC, a top economist said yesterday.
Neighbours who raced to the scene described how Mrs Chubb had acted in a strange manner - unpegging
washing from a clothes line and closing windows as her husband burned to death in the shed.
The advancing globalization of economic activity in general and financial markets in particular, together with the unpegging
of exchange rates following the collapse of the Bretton Woods system in the early 1970s, matters in each of these contexts and more besides.
For this reason, he must have welcomed it that the unpegging
of the ringgit could be done in the shadow of China's move and attracted very little attention.
Despite the escalating tensions treated by this issue between Washington and Beijing in recent months, the Chinese government has made it abundantly clear that it has no intention of unpegging
the yuan from the dollar.
The importance attached to export promotion could explain the reluctance of the Asian countries to abandon pegs when exchange rates were under upward pressure in the mid-1990s, conditions which would seem to have been ideal for unpegging
in an orderly way (Eichengreen and Masson et al.
Indeed, he supported unpegging
the federal funds rate to counter incipient price pressures showing through in commodity and finished goods prices.