UAE cenbank says nothing can replace the dollar

ABU DHABI May 31 (Reuters) - The central bank chief for the United Arab Emirates said he saw weakness in the dollar as a "temporary situation" and expressed support for the greenback, saying no other money could replace it as a reserve currency.

"There is no other currency to replace the dollar, not the euro," Central Bank Governor Sultan Nasser al-Suweidi told reporters on Sunday at a regulatory event. "It is the currency for investment."

Separately, Suweidi said most but not all of the banks in the UAE would meet the central bank's June deadline to increase their capital reserves.

(Reporting by Stanley Carvalho, Writing by Thomas Atkins)