Forex Blog: Currency Trading News & Analysis.

November 8th 2006

Gulf Reserves Near $500 Billion

Most of the reporting on foreign exchange reserves addresses the swelling stocks of Asian countries, namely China, Japan, and South Korea. But, as I have been reporting for several months now, the oil-rich countries of the Middle East are beginning to amass equally impressive stockpiles of reserves. In fact, it is estimated that by 2007, the Gulf Coast Countries will own a combined $500 Billion, with Saudia Arabia leading the pack with nearly $225 Billion. The irony, is that, while protectionists gripe about how soaring commodity prices are inflating the trade deficit, the oil exporters are simultaneously financing our deficit.

“These increases reflect a sharp improvement in current account positions in some countries, and higher foreign investments and other capital inflows in other countries,” IMF said.

Read More: UAE’s forex reserves to reach $29b

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© 2004 - 2018 Forex Blog.org. Currency charts © their sources. While we aim to analyze and try to forceast the forex markets, none of what we publish should be taken as personalized investment advice. Forex exchange rates depend on many factors like monetary policy, currency inflation, and geo-political risks that may not be forseen. Forex trading & investing involves a significant risk of loss.