TCMB - CBUAE and the CBRT Sign an Agreement to Establish a Swap Agreement for Their Respective Currencies(2022-04)
Central bank: tcmb | Type: decision | Date: 2022-01-19

CBUAE and the CBRT Sign an Agreement to Establish a Swap Agreement for Their Respective Currencies(2022-04)
No: 2022-04
19 January 2022
CBUAE and the CBRT Sign an Agreement to Establish a Swap Agreement for Their Respective Currencies
The nominal size of this Swap Agreement is mutually AED 18 billion and TRY 64 billion.
The agreement, which is designed to promote bilateral trade with the aim of further strengthening financial cooperation between the two countries, will stand for a period of three years, with the possibility of an extension through mutual agreement.
H.E Prof. Şahap Kavcıoğlu, said: “This agreement demonstrates the two central banks’ commitment to deepen bilateral trade in local currencies in order to advance economic and financial relations between our countries.”
CBUAE and the CBRT Sign an Agreement to Establish a Swap Agreement for Their Respective Currencies(2022-04)