Qatar is open to accepting all currencies for trade though the dollar will still dominate, Finance Minister Ali al-Emadi told a conference in Doha on Saturday, APA reports quoting Reuters.
The comment at the Doha Forum came in response to a question about whether Qatar, one of the world largest exporters of liquefied natural gas (LNG), was prepared to accept other currencies in LNG trade.
“We are very much open to all currencies,” al-Emadi said on a joint panel with U.S. Treasury Secretary Steven Mnuchin. The finance ministry clarified the comment was referring to broader trade rather than LNG specifically.
“If you look at Qatar, as I said, most of our economy is dollarized, based on our export of energy,” he said.
“But if you look at the way that the financial markets are structured, we are open for all currencies. We have the remnimbis, we have the euros, we have the sterlings, but the domination is for dollars,” the minister added.