Economics, Econometrics and Finance
3 years ago

GCC countries poised to establish common currency, challenging dominance of USD.

American Journal of Industrial and Business Management
Common Currency Area in GCC Region: An Application of Euro Model
Waqar Ahmad

Paper Summary

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The article discusses the possibility of Gulf countries in the GCC region adopting a common currency, similar to the Euro in Europe. By applying the European Monetary Union model to the GCC states, it was found that they meet the criteria for establishing a monetary union. This suggests that the GCC countries are ready for a common currency area, following the successful example of the Eurozone.