Trump says currency swap with UAE under study

WASHINGTON: President Trump said on Tuesday that the United States was considering helping the United Arab Emirates financially and a currency swap with the Middle East nation was under consideration. “It is, ” Trump told CNBC when asked if a currency swap with the UAE was under consideration, calling them a good ally. “They’re really led by incredible people. .. I mean, I’m surprised, because they are really rich, ” Trump said. “If I could help them, I would, I mean, we’re helping them much more with what we’re doing with the war, ” Trump said referring to US and Israel’s war with Iran. The Wall Street Journal reported that UAE’s central bank governor raised the idea of a currency swap line with US Treasury Secretary Scott Bessent and Federal Reserve officials in meetings in Washington last week, in case the war plunges the oil-rich country into a deeper crisis.

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