Middle East MonitorL

UAE considers boosting Turkey foreign reserves with $5 billion currency deal

Turkey is reportedly seeking to increase the foreign currency reserves possessed by its central bank, in a currency swap agreement with the United Arab Emirates that could amount to at least $5 billion. According to the London-based news outlet Middle East Eye, which cited an anonymous senior Turkish official, Ankara and Abu Dhabi are in the process of coming to an agreement which would see the Turkish central bank receiving more foreign currenc…