UAE central bank to wait for Euro decline
The UAE central bank favors investing in American corporate debt rather than government Treasuries because of their relatively attractive yield, the central bank governor stated. "We are investing more in U.S. corporate bonds (because) they pay more than Treasuries. We are going for corporate investments more," governor Sultan Nasser al-Suweidi said, according to Gulf News.
Suweidi added the central bank would wait for a decline in the euro before making purchases as part of plans to diversify its largely dollar denominated foreign exchange reserves.
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