5 Hrs
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المصري اليوم
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UAE Dirham Value After Swap Extension
The currency swap agreement between the UAE and Egypt has been renewed, with a total value of 5 billion UAE dirhams (equivalent to 69 billion Egyptian pounds), and it will remain in effect for five years. This agreement has led to an increase in the value of the UAE dirham against the Egyptian pound, with the exchange rate on Tuesday, September 29, recorded at 14.17 pounds for buying and 14.21 pounds for selling, marking the highest level in a week. This follows a low of 13.98 pounds during the same period. The purpose of the agreement is to strengthen bilateral trade and financial cooperation between the two countries, promote the use of local currencies in commercial settlements, and achieve financial stability and economic development.
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