US EditionUAE and Bahrain Sign Nearly $6bn Currency Swap Deal
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UAE and Bahrain sign nearly $6bn currency swap deal
The central banks of the UAE and Bahrain have signed a currency swap agreement to promote the use of local money for cross-border trade and investment. The five-year swap deal has a nominal value of AED20 billion, or BHD2 billion ($5.5 billion), the UAE state-run Wam news agency reported. Khaled Mohamed Balama, governor of the Emirati central bank, said the agreement aims to expand financial and monetary cooperation, as well as strengthen trade …
CBB, CBUAE sign BHD 2 billion currency swap agreement
Manama : The Central Bank of Bahrain (CBB) and the Central Bank of the United Arab Emirates (CBUAE) announced the establishment of a currency swap agreement between the Bahraini dinar (BHD) and the UAE dirham (AED), signed during a virtual ceremony. The agreement has a nominal value of BHD 2 billion (AED 20 billion) and a term of five years. It was signed by Khaled Mohamed Balama, Governor of the Central Bank of the United Arab Emirates, and Kha…
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