Exchange houses in Dubai have recorded an average increase of 15 percent in demand for the transactions in the first week of the Dubai Shopping Festival (DSF), and expect this figure to climb to more than 25 percent towards the last two weeks of the Festival.
The bulk of the deals done by exchange houses figured currencies of the Gulf Cooperation Council (GCC) countries through huge demand for Emirati dirhams at their branches located in shopping malls and DSF venues. Many exchange companies reported hectic dealings covering the Omani rial, Saudi riyal, Kuwaiti riyal, Qatari riyal and Bahraini dinar.
DSF is held in Dubai, United Arab Emirates (UAE) from January 15 to February 15, 2003. The 32-day long festivities offer tax-free shopping and low import duties. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
