Forex Trader column: Crash on the Persian Gulf?

The financial crisis makes no region of the world before the halt, not even the rich Persian Gulf states, where some bubble bursts. Particularly affected is the flagship Once emirate Dubai. The low oil prices, the withdrawal of private investors and the rise in financing costs represent a continuation of the expansion on Pump impossible. Because of its prestige, not to say madcap projects such as the tallest building in the world, the Burj Dubai, the Emirate has announced a loan to his neighbor Abu Dhabi in the amount of ten billion rely to pay to stay. Dubai has 80 billion dollars in debts, while Abu Dhabi 328 billion USD in a Sovereign Wealth Fund has created. Dubai is now so financially dependent on the drip neighbors Abu Dhabi. The exchange rate of dirham Dubai currency remains to the U.S. dollar bound, which prevented a devaluation. Overall, from the petrodollars fed assets of the states on the Persian Gulf in recent months by the crash in the international markets together arg. This is also reflected in the downturn in stock markets of the region. Improvement would result if all of a new rally in oil prices, but is not currently in sight.

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