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Dollar falls worries OPEC – OPEC secretary-general

The dollar on Thursday dropped to its lowest this year against a basket of currencies.


October 15, 2010 8:37 by

The fall in the value of the dollar is concerning OPEC oil ministers, OPEC Secretary-General Abdullah al-Badri said on Thursday.

“OPEC ministers are concerned about the dollar siutation,” Badri told a news conference after OPEC’s meeting. “It’s not just us, the whole world is watching.”

“I don’t know what will happen, that’s what we are concerned about in 2011,” he added.

The dollar on Thursday dropped to its lowest this year against a basket of currencies , making dollar-denominated commodities such as oil relatively cheap for holders of other currencies and encouraging buyers to push the price higher, but eroding the income of producers.


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