UAE and Bahrain sign currency swap agreement worth AED 20 billion

The UAE and Bahrain have inked a significant AED 20 billion currency swap deal, fostering deeper financial ties and economic cooperation. This five-year pact, formalised by their central bank governors, aims to boost local currency usage in trade and investment, enhancing regional financial integration and stability. Officials view this as a crucial step for economic growth and stronger partnerships.

By TOI World Desk