Trading of GCC currencies is reaching new levels, says, ADS Securities
ADS Securities, the leading Abu Dhabi-based forex and commodities trading platform, has seen a dramatic increase in the volume of GCC currencies traded within the region, according to the company’s Chief Dealer, Peter Laursen.
The main currencies, including the SAR, QAR, BHD and AED, are all pegged to the US dollar, but global market volatility means that it is now important for companies to trade and manage their currency position within the trading range of these pegged currencies.
Chief Dealer Peter Laursen commented today, “As a GCC based platform, we are now offering tight spreads on all the major GCC/ Dollar currency pairs and although they are pegged, the range means that the smart investors and companies are now actively trading their local currency to ensure they maintain or gain investment value as the rates varies from country to country.”
“Broadly, we are noticing the development of new trends as investors both locally and around the world look to the ADS Securities platform as a means of extracting the best currency value possible in a tricky market. Whether these trends are driven by volatility in global markets and unresolved problems facing the eurozone or the need to adopt smart opportunistic currency positions locally, we’ll continue to offer superb access to liquidity in the region and some of the tightest spreads available.”
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