UAE and Ethiopia Foster Bilateral Currency Swap with $817 Million Deal

Tuesday, 16 July 2024, 14:08

The central banks of the United Arab Emirates (UAE) and Ethiopia have signed a significant currency swap agreement amounting to 3 billion dirhams ($816.79 million). This deal aims to enhance the stability and strength of the local currencies in both countries while promoting economic cooperation and trade relations between UAE and Ethiopia. The agreement signifies a strategic financial partnership that benefits the economies of both nations and fosters financial stability in the region.
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UAE and Ethiopia Foster Bilateral Currency Swap with $817 Million Deal

UAE and Ethiopia Currency Swap Agreement

The central banks of the United Arab Emirates (UAE) and Ethiopia have formalized a bilateral currency swap agreement valued at 3 billion dirhams ($816.79 million).

Key Points:

  • Significance: Aims to strengthen local currencies
  • Financial Volume: Amounts to 3 billion dirhams
  • Economic Cooperation: Enhances trade relations between UAE and Ethiopia
  • Strategic Partnership: Promotes financial stability in the region

In conclusion, the currency swap deal between UAE and Ethiopia signifies a crucial step towards enhancing economic collaboration and stability in the region.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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