Reuters reporting comments from the gov Mubarak Rashid al-Mansouri at a conference in Dubai
Central Bank of UAE
– immediate impact of US interest rate hike will be “appropriate adjustment” of UAE rates
In 1978, the Dirham adopted a fixed exchange rate to the IMF’s special drawing rights (SDR). It was then re-pegged to the US
Dollar in 1997 at a rate of 1 USD to 3.6725 AED.