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Art78
Joined: 23 Dec 2014
Posts: 7
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 Posted: Tue Aug 18, 2015 1:31 pm Post subject: Chinese Yuan devaluation and Middle East currencies |
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| I am wondering if currencies in the Middle East have been affected by the devaluation of the Chinese yuan? If yes, how badly? If no, do you have any reasons why Middle Eastern currencies haven't been affected? |
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veiledsentiments
Joined: 20 Feb 2003
Posts: 17644
Location: USA
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| Posted: Tue Aug 18, 2015 1:52 pm Post subject: |
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Not sure why they would be since the yuan has always been a highly controlled currency little based on reality.
Gulf currencies are mainly based on the US dollar since that is the currency that the oil business uses. Thus if you are American, currency fluctuations have little effect on you. If your currency of choice is other than the US$, Gulf currency fluctuations will affect you.
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scot47
Joined: 10 Jan 2003
Posts: 15343
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| Posted: Wed Aug 19, 2015 12:25 pm Post subject: |
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| Why would devaluation of the Yuan affect currencies in the Middle East ? |
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