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Fatah official: Palestinians may begin using dollars

June 27, 2011 11:49 P.M. (Updated: June 29, 2011 9:12 A.M.)
RAMALLAH (Ma’an) -- A leading Fatah figure has revealed some of the means that might be used in the event the UN declines to take a positive decision on Palestinian statehood and its membership in the Security Council.

"The Palestinian leadership will be pushed to take decisions with strategic dimension in dealing with this matter, including the use of the US dollar as the main currency in the Palestinian markets instead of the Israeli shekel," said Muhammad Shtayyeh on Monday, speaking at the Justice Ministry in Ramallah.

Shtayyeh also said the Palestinians could expand their boycott of settlements to all Israeli products.

"We are talking about 2.8 billion NIS circulated in the Palestinian markets in the West Bank and Gaza; this means that this amount will return to the Israeli treasury to become a surplus," he said.

US dollars are widely used in the Palestinian territories in addition to the Israeli shekel. The Jordanian dinar and Egyptian pound are frequently used in the West Bank and Gaza Strip, respectively.
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