Paulson says dollar peg has served Mideast well
May 31st, 2008 | by admin |JEDDAH, May 31 (Reuters) - U.S. Treasury Secretary HenryPaulson said on Saturday the dollar peg for currencies in theMiddle East had served those countries well and any changes tothe peg would be a sovereign matter.
Paulson, on a visit to Saudi Arabia, Qatar and the UnitedArab Emirates, also told a news conference the current level ofoil prices were a burden on economies and consumers around theworld.
Asked about the dollar peg, Paulson said:
“That is a sovereign decision … The dollar peg, I think,has served this country (Saudi Arabia) and this region well.”
Paulson earlier met Saudi Finance Minister Ibrahim al-Assafto discuss a range of issues including the oil market, the U.S.and Saudi economies and issues related to foreign exchange.
(Reporting by David Lawder; editing by Christopher Johnson)
