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Turkey, UAE Sign FX Swap Deal Worth $5 Billion

  • Pact follows similar agreements with Qatar, South Korea, China
  • Reserves shrank as central bank sought to stem lira’s decline
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Turkey signed a $4.9 billion currency swap agreement with the United Arab Emirates, boosting foreign-exchange reserves depleted by the country’s financial turmoil.

Turkey May Conclude FX Swap Deals With 2 Countries: Governor