UAE Vice-President and Prime Minister Sheikh Mohammed bin Rashid al-Maktoum has confirmed the federation is considering removing the dirham’s peg to the US dollar, while saying he is confident that inflation in the federation will solve itself.
I’ll take that as a “maybe“.
How about Bahrain?
Bahrain’s crown prince said on Saturday that even talking about revaluing the local currency against the dollar was irresponsible and the country had no plans to adjust the value of the dinar.
I’ll take that as “no effin’ chance boyo“!
So how are your purchases doing in the ever increasing – and completely obfuscated – inflationary economy in Bahrain? They say that even dog food is up by BD2 per bag and it’s set to rise again next week, so go and stock up!