Search results
Results from the WOW.Com Content Network
Since Islamic economic jurisprudence prohibits interest, or 'riba,' there was speculation that the future GCC currency would be backed by gold. [2]However, senior figures in the GCC administration have stated that the currency may be linked to the US Dollar or would tie-up with a basket of currencies [3] in which the US Dollar would have a lion's share.
Khaleej Times (India, Dubai) 7days ; 247 City News (Dubai) Dubai Standard (Dubai) Emirates Business 24/7 (Dubai) The Arabian Post (Dubai) Emirati Times; Latin&gulf; Khaleej Mag; Gulf Today (Sharjah) The National (Abu Dhabi) The Brew News; Sport360 (Dubai) Dubai.News (Dubai) XPRESS (Dubai) Arabic language. Al Khaleej (Sharjah) Akhbar Al Arab ...
The economy was expected to grow 4–4.5% in 2013, compared to 2.3–3.5% over the previous five years. Since independence in 1971, UAE's economy has grown by nearly 231 times to AED1.45 trillion in 2013. The non-oil trade has grown to AED1.2 trillion, a growth of around 28 times from 1981 to 2012. [22]
Khaleej Times is a daily English language newspaper published in Dubai, United Arab Emirates. [2] [3] [4] Launched on 16 April 1978, Khaleej Times is the UAE's ...
Gold prices (US$ per troy ounce), in nominal US$ and inflation adjusted US$ from 1914 onward. Price of gold 1915–2022 Gold price history in 1960–2014 Gold price per gram between Jan 1971 and Jan 2012.
The exchange rate at which the transaction is done is called the spot exchange rate. As of 2010, the average daily turnover of global FX spot transactions reached nearly US$1.5 trillion, counting 37.4% of all foreign exchange transactions. [ 1 ]
From 1899 to 1913, holdings of countries' foreign exchange increased at an annual rate of 10.8%, while holdings of gold increased at an annual rate of 6.3% between 1903 and 1913. [23] At the end of 1913, nearly half of the world's foreign exchange was conducted using the pound sterling. [24]
In economics, a dual exchange rate is the occurrence of two different values of a currency for different sets of monetary transactions. [1] [2] One of the most common types consists of a government setting one exchange rate for specific transactions involving foreign exchange and another exchange rate governing other transactions.