U.A.E. Devaluation Wagers Drop After Saudis Pledge to Keep Peg

  • Dirham forward contracts decline from highest in six years
  • U.A.E. coordinates monetary policy with Gulf ally Saudi Arabia

Contracts used to bet on a devaluation of the United Arab Emirates dirham fell from a six-year high after Saudi Arabia, with which it coordinates monetary policy, said it would maintain its currency’s peg to the dollar.

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