Another one bites the dust

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Angola drops pegging oil to the dollar in an effort to offset drop in foreign currency reserves. Is this a new trend set to dethrone the dollar?

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Obviously this oil price rise is not enough for Angola which joined a long list of commodity exporters abandoning its currency peg to save its economy from the repercussions from the last oil-price crash. 

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There's also been talk lately (panic, really, and hedge funds hoping to make a killing) that the Saudis or other Gulf states might depeg from the dollar ... I think it's all just hype and panic right now and it's a last resort, but ... it's probably an eventuality.

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