Maldives seeks UAE currency swap

The Maldives is seeking to strengthen its foreign exchange reserves through a currency swap agreement with the UAE, in addition to similar arrangements with China and other countries, to support its economy amidst pressures from the Iran-Israel conflict and its impact on tourism and economic growth. It is also working on connecting payment systems with its partners to boost trade and settlements in national currencies, while aiming to enhance its reserves through allocations from international financial institutions, improve debt management, and develop its tourist infrastructure.

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