The government has been taking efforts to contain this price rise and should be able to maintain the inflation at 16% in 2008 gradually decreasing it to 11.5% in 2009. Currently UAE is pegged against the US dollar at AED3.7/$. The current weakness of the dollar and its continued decline in value has also contributed to the prevailing inflation in UAE as it has significantly increased the price of imports which the country is highly dependent on...
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Currently UAE is pegged against the US dollar at AED3.7/$. The current weakness of the dollar and its continued decline in value has also contributed to the prevailing inflation in UAE as it has significantly increased the price of imports which the country is highly dependent on. Though there has been speculation on the possibility that the dirham will be revalued the Central Bank has recently announced that there are no plans for revaluation and that they will continue with the existing system which has proven to be successful in the past...
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