11 months ago
UAE, Turkey Central Banks Sign $4.9 Billion Currency Swap
The central banks of the UAE and Turkey made a deal to help each other with money.
They agreed to swap currencies, which is like a temporary exchange of money.
The deal is worth about $4.9 billion, providing financial markets with local currency.
This helps make it easier for businesses to buy and sell things between the two countries.
They also signed agreements to encourage the use of each other's money for transactions and to connect their payment systems, making it smoother to send and receive money.
UAE and Turkey central banks signed a currency swap deal.
The deal is valued at $4.90 billion.
The swap aims to provide local currency liquidity.
They also signed agreements to boost local currency use.
The agreements cover linking payment systems.
- Who
- Central banks of the United Arab Emirates and Turkey
- What
- Signed a currency swap deal and MOUs
- Where
- Between the UAE and Turkey
- When
- October 2, 2025
- Why
- To provide local currency liquidity and promote local currency use.
Key facts
- Deal Size
- 18 billion UAE dirham ($4.90 billion)
- Turkish Lira
- 198 billion
- Purpose
- Provide local currency liquidity
- Parties
- Central banks of UAE and Turkey
- Agreements
- Currency swap, MOUs on local currency use
- Published
- October 2, 2025
Quotes
The Turkish central bank
The central bank of Turkey
“The swap deal is designed to provide local currency liquidity to financial markets and enable more efficient settlement of commercial and financial transactions.”
thehindubusinessline.com
