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UAE says it is discussing currency swap line with US

Middle East News

04-05-2026 | 06:51

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UAE says it is discussing currency swap line with US

The United Arab Emirates is discussing a currency swap line with the United States, its trade minister said on Monday.

"We have this discussion and conversation with many, it's part of an elite group that the U.S. is having this swap policy with. They are only having it with five countries," Thani Al Zeyoudi said at a conference in Abu Dhabi.

"Being part of that group means that transactions... trade, investments between both nations reach ⁠a level where that swap is highly needed ... so it is an elite matter, (it) is not about bailing out," he told the "Make It In The Emirates" event.

Currency swap lines between central banks allow each institution to obtain the other's currency without resorting to foreign exchange markets, reducing transaction costs and exchange-rate risk for cross-border trade and investment.

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