EURO in the Palestinian areas by the beginning of 1999

The Arab Bank in Jerusalem on Tuesday announced that Palestinians of the West Bank and the Gaza Strip will be able to deal in the European currency, the "Euro," as of the January 1, 1999.

For several days, the bank, which is the largest working in the areas of the Palestinian Authority has been advertising in local papers for this purpose. An official at the Palestinian Funding Authority explained that the PAS does not prevent dealing with any currency in its territories, especially in the absence of a Palestinian currency.

The Euro will compete with the Israeli shekel, the US dollar and the Jordanian dinar, the most common currencies in the Palestinian territories.