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UAE, Ethiopia sign currency swap deal with value of up to $817 million

World News

2024-07-16 | 07:31

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UAE, Ethiopia sign currency swap deal with value of up to $817 million

The central banks of the United Arab Emirates (UAE) and Ethiopia on Tuesday signed a bilateral currency swap agreement with a value of up to 3 billion dirhams ($816.79 million).

The two central banks also signed preliminary agreements to establish a framework for the use of local currencies in settling cross-border transactions and for linking their payment and messaging systems.

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