Qatar may revalue its currency in the coming weeks!
Qatar may revalue its currency against the weak U.S. dollar in the coming weeks, an analyst at Standard Chartered said.
“The only adjustment we can see in the short-run is a revaluation as depegging is a very politically sensitive topic at the moment,” says Marios Maratheftis, regional head of research at Standard Chartered in Dubai.
He added that a one-off significant revaluation of 20% will be the best option for Qatar as it will replicate what a de-peg to a currency basket would have achieved and the one-off nature will make it less politically sensitive. Inflation in Qatar is at a record 14%, the worst in the region.
The Magic word is 'MAY'.
We are caught in betweeen A potential pay rise and that payrise not happening on the pretext of the Value of the Riyal increasing.
Lets hope all works to our benifit!