Pegging a planned new Gulf currency to a basket of currencies is one option on the table although there is no perfect solution, Saudi Arabia's top monetary official, Muhammad Al-Jasser, said on Thursday. On Tuesday, Kuwait - which dropped its dollar peg in 2007 in favor of a currency basket which includes the greenback - said that Gulf countries will discuss pegging their planned single currency to a basket instead of the US dollar. Al-Jasser, governor of the Saudi Arabian Monetary Agency, told reporters on the sidelines of a Euro Finance Week event: “That is one of the possibilities, (but) there are a lot of possibilities, including keeping the peg or otherwise.” “Nothing is ruled out, nothing is ruled in. There is no perfect solution.” The Saudi central bank kept interest rates unchanged in the third quarter.
