Turkish, Qatari Central Banks Ink Currency Swap Deal
Sumaira FH Published August 20, 2018 | 02:40 PM
The central banks of Qatar and Turkey signed a currency swap agreement in the Qatari capital Doha.
ANKARA, (UrduPoint / Pakistan Point News - 20th Aug, 2018 ) :The central banks of Qatar and Turkey signed a Currency swap agreement in the Qatari capital Doha.
According to sources from Turkish central bank, the first step has been taken after Qatar pledged $15 billion of investment package in Turkey last Wednesday.
The agreement aims to enhance bilateral cooperation between two banks through setting a two-way currency exchange line.
It will provide liquidity and support for financial stability, along with facilitating exchange of trade between Turkey and Qatar. The agreement will also contribute to enrichment of reserves of both countries.
The funding for the first phase of the deal is expected to be worth $3 billion.
Recent Stories
Aiman Khan granted UAE Golden Visa
PSX achieves significant milestone, surpasses 72,000 mark
Pak Vs NZ T20I: Orphaned children extended special invitation to watch match
Finance Minister lauds UNDP’s unwavering support during floods
President Raisi leaves for Iran from Karachi
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 24 April 2024
Today Gold Rate in Pakistan 24 April 2024
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
Dutch model Donny Roelvink embraces Islam
Experts raise concerns over introduction of 10-stick packs
Iranian president arrives in Karachi
Law Minister expresses Govt's resolve to address issue of missing persons
More Stories From Business
-
Gold rates up by Rs.1,100 per tola to Rs.242,000
31 minutes ago -
Shipping activity at Port Qasim
2 hours ago -
PSX achieves significant milestone, surpasses 72,000 mark
2 hours ago -
KP to adopt fixed ST on services for lawyers, customs agent
2 hours ago -
KPT shipping movements report
2 hours ago -
Machinery import surges by 30% in nine months
2 hours ago
-
Foreign exchange rates
5 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 24 April 2024
6 hours ago -
Today Gold Rate in Pakistan 24 April 2024
7 hours ago -
Afghan trade delegation, FPCCI discuss bilateral trade
17 hours ago -
With knowledge economy, Mauritius is a stable economy: Envoy
17 hours ago -
Aurangzeb reiterates govt's resole to reduce poverty, promote sustainable development
18 hours ago