Egypt, UAE Central Banks Ink Deal to Renew AED 5 Billion Currency Swap
The deal supports trade and financial stability as bilateral commerce reached $9.7 billion in 2025, the UAE Foreign Ministry said.
- On Tuesday, the UAE Central Bank and the Central Bank of Egypt renewed their Dh5 billion currency swap agreement, valid for five years, to enhance financial cooperation and trade relations.
- Bilateral trade between the two nations hit $9.7 billion in 2025, a nearly 62 per cent year-on-year increase, while Egyptian exports to the UAE more than doubled to $7 billion last year.
- UAE Central Bank Governor Khaled Mohamed Balama signed the deal with Central Bank of Egypt Governor Hassan Abdalla, with Balama stating it "demonstrates our shared commitment" to financial stability and trade flows.
- Aligning with international best practices, the agreement promotes greater use of local currencies in bilateral settlements, strengthening the financial resilience of both countries' systems.
- The UAE has pursued similar swap agreements with Bahrain, China, and Turkey, while negotiating a comparable deal with the US, reflecting a broader strategy to protect its financial system amid regional uncertainty.
13 Articles
13 Articles
Egypt, UAE central banks ink deal to renew AED 5 billion currency swap
The Central Bank of Egypt (CBE) and the Central Bank of the United Arab Emirates (CBUAE) renewed the currency swap agreement between the UAE Dirham (AED) and the Egyptian Pound (EGP), during a signing ceremony held at the CBUAE headquarters on Tuesday, September 29, 2026. The swap agreement has a nominal value of AED 5 …
UAE, Egypt renew $1.36bn currency swap for 5 years
RIYADH: The UAE and Egypt renewed a 5 billion UAE dirhams ($1.36 billion) currency swap agreement for five years, strengthening financial links between the two countries as bilateral trade continues to expand. The agreement, equivalent to 69 billion Egyptian pounds, was signed by the Central Bank of the UAE and the Central Bank of Egypt at the CBUAE’s headquarters by the respective institutions' governors, according to a statement. Local-currenc…
UAE, Egypt central banks renew currency swap agreement
The central banks of UAE and Egypt (CBUAE and CBE) have renewed their currency swap agreement. With a nominal value of Dh 5 billion, equivalent to EGP 69 billion, the agreement is valid for 5 years.
UAE and Egypt Renew $1.36 Billion Currency Swap Deal to Boost Trade and Investment
Deal aims to enhance trade, financial cooperation and economic development between UAE, Egypt, after US Treasury suspended dollar transactions at Egyptian Banque Misr’s Emirati branches late last month The central banks of the United Arab Emirates (UAE) and Egypt renewed their currency swap agreement between their respective currencies on Tuesday. The nominal value of the …
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