I am interested in knowing the official currency used in the GCC countries. GCC stands for Gulf Cooperation Council and includes several Middle Eastern nations. I want to find out what type of money is used in these countries.
6 answers
CryptoKing
Thu Nov 21 2024
The basket includes major global currencies such as the US Dollar and the Euro.
Riccardo
Thu Nov 21 2024
The currencies utilized in Saudi Arabia, the United Arab Emirates, Qatar, Oman, and Bahrain maintain a fixed exchange rate with the US Dollar.
Eleonora
Thu Nov 21 2024
This approach provides Kuwait with a broader base for currency valuation.
GalaxyGlider
Thu Nov 21 2024
This pegged system ensures stability and predictability in their economic transactions.
CherryBlossomFall
Thu Nov 21 2024
Notably, Saudi Arabia has declined proposals to adopt the International Monetary Fund's Special Drawing Rights (SDR) as a reserve currency.