The Central Bank of the UAE and the Central Bank of Egypt renewed their bilateral currency swap agreement for five years. The agreement has a nominal value of AED 5 billion, equivalent to EGP 69 billion. The arrangement supports the use of UAE dirhams and Egyptian pounds in bilateral trade and financial settlements. It is intended to facilitate trade and investment flows while deepening financial and banking cooperation between the two countries.
Central Bank of the UAE and Central Bank of Egypt renew AED 5 billion currency swap agreement for five years
The Central Bank of the UAE and the Central Bank of Egypt renewed their AED 5 billion currency swap agreement for five years, equivalent to EGP 69 billion. The arrangement supports local currency use in bilateral trade and financial settlements.