Egypt, UAE central banks ink deal to renew AED 5 billion currency swap
Middle East2 sources2 countries🔦 Under-reported47m ago
The Central Bank of Egypt and the Central Bank of the United Arab Emirates signed an agreement on September 29, 2026, to renew a currency swap arrangement. The deal involves 5 billion UAE dirhams, which is equivalent to approximately 69 billion Egyptian pounds or $1.36 billion USD. The signing ceremony took place at the headquarters of the Central Bank of the UAE.
The renewed agreement is set for a five-year term. The arrangement is intended to strengthen financial ties between the two nations as bilateral trade continues to expand.
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Arab News (SA)Highlights the five-year duration and the broader context of trade expansion.
Newz