One day before, Kuwait had dropped the dinar’s peg to the dollar and adopted numerous other currencies.
In May, the Kuwait central bank broke ranks with five other Gulf oil producers, that have pegged their currencies to the dollar to prepare for a regional monetary union.
“This will probably increase speculation that something will happen in other Gulf countries, but it is still an unlikely event this year,” said Steve Brice, regional head of research at Standard Chartered bank in Dubai.
Oman has also refused to revalue its rial currency because the decline of the dollar is “a passing phase,” according to the country’s acting central bank governor.
“We do not intend to do anything,” said Mohammed Nasser al-Jahadhmy, executive vice president at the Central Bank of Oman.