'Palestinians considering own currency'

Preparations for independence include national bank.

By JPOST.COM STAFF
May 30, 2010 12:33
Salam Fayyad.

fayyad lookin formal 311. (photo credit: AP)

 
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The Palestinian Authority is considering introducing its own currency called the 'Palestinian pound,' Palestinian Monetary Authority governor Jihad al-Wazir said in an interview with The Washington Post on Sunday.

"All options are open, as far as we're concerned - issuing our own currency is one," Wazir was quoted as saying, adding that the Palestinians were weighing linking the currency to the dollar or the euro.

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The article reported that PA Prime Minister Salam Fayyad is working to ensure the Palestinians can function independently of Israel and as part of those preparations has just laid the foundations for a central bank which Wazir would head.

Wazir is said to be friendly with Bank of Israel governor Stanley Fischer, and has assumed many of the roles of a central banker.

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