Qatar says no change planned in currency policy

Doha: Qatar has no plans to change its currency policy, the finance minister said on Monday, when asked whether he was considering allowing the dollar-pegged riyal to appreciate.

When asked whether he could rule out revaluation in 2007 and 2008, Youssef Kamal said, "I tell you, my wording is clear, we are committed, committed, committed."

He added, "There is no change at all in our policy. We are linked to the US dollar today as we will be tomorrow."

Gulf Arab rulers agreed last week to keep pegs to the tumbling dollar and any talks on currency reform secret. Bahrain's foreign minister said on Saturday Gulf finance ministers and central bankers would meet in days to discuss revaluation.