UAE and Egypt renew 5B dirham swap
The Central Bank of the United Arab Emirates and the Central Bank of Egypt renewed their currency swap agreement valued at 5 billion Emirati Dirhams, equivalent to approximately 69 billion Egyptian pounds, for a period of five years. The agreement aims to strengthen financial cooperation between the two countries, support financial stability, facilitate commercial and investment transactions, and promote the use of local currencies in bilateral settlements. This reflects the strength of the strategic relationship between the UAE and Egypt and contributes to expanding financial and economic collaboration between them.
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