Follow Up post is a new feature from Dinar Chat to our listeners where we follow up on episodes and topics discussed earlier. Our first follow up is about the 6 Nations, 1 Currency episode [audio http://www.box.net/public/static/ildrpexu7s.mp3]

Kuwait Central bank finally agreed to discard the US $ for Currency Basket as the mean to weight the Kuwaiti Dinar. The 6 Nations, 1 Currency episode briefly discussed the benefits of such a move especially since the US economy has fluctuated over the past few years due to some political and internal factors.

Currency Basket is a selected group of currencies whose weighted average is used as a measure of the value or the amount of an obligation. A currency basket functions as a benchmark for regional currency movements - its composition and weighting depends on its purpose. A currency basket is commonly used in contracts as a way of avoiding (or minimizing) the risk of currency fluctuations. The European Currency Unit (which was replaced by the euro) and the Asian Currency Unit are examples of currency baskets.

Adopting the Currency Basket is the right start to have a more secure financial future and pave the way for converting Kuwait into a major business hub and possibly the financial capitol of the region. Dinar Chat and the Chat family would like to hear you take on such a move by commenting and discussing this matter.