Hi, need to submit a 3250 words paper on the topic The value of GCC currencies.

Hi, need to submit a 3250 words paper on the topic The value of GCC currencies. Conclusion: 14 8. Bibliography: 15 1. Introduction: The Gulf Cooperation Council (GCC) is also known as the Cooperation Council for the Arab States of the Gulf (CCASG). It is a political and economic union of the Arab states neighboring the Persian Gulf and the Arabian Peninsula. The six member states of the GCC are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates. They are often known as “The GCC States.” Some of the general objectives of GCC countries are a follows: promotion of scientific and technical progress in different industries like mining, agriculture, water and animal resources. setting up joint ventures among the member states. cheering cooperation of the private sectors. strengthening ties between the peoples of the member countries. and establishing and developing a common currency for all the member countries. The common currency of GCC is known as Khaleeji (meaning Gulf in Arabic). At present, the GCC monetary union is the third monetary union in the world in terms of GDP, after the Euro and 2) the unofficial monetary union between the United States and the Latin American countries which declared the US dollar as their currency. There are certain problems now facing the GCC council. According to IMF report (1997), the key challenge facing the GCC countries was the financial condition and valuation of the currency in the member countries of GCC.