The United Arab Emirates (UAE) and Egypt have renewed their currency swap agreement valued at AED 5 billion, according to reports.
The renewed agreement is expected to remain in place for five years, extending financial cooperation between the two countries.
The currency swap arrangement is designed to facilitate trade and financial transactions between the UAE and Egypt while strengthening liquidity and monetary cooperation between the two economies.
The renewal comes as both countries continue to deepen their economic and financial ties, with the UAE remaining a major investor and economic partner for Egypt.
According to Egypt Today, the extension of the agreement will run for five years.
