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UAE, Turkey sign $4.90 billion currency swap agreement, UAE central bank says

BY Reuters | ECONOMIC | 10/02/25 07:06 AM EDT

DUBAI, Oct 2 (Reuters) - The central banks of the United Arab Emirates and Turkey signed a bilateral currency swap agreement of a nominal size of 18 billion UAE dirham ($4.90 billion) and 198 billion Turkish lira, the UAE central bank said on Thursday. ($1 = 3.6728 UAE dirham) (Reporting by Nayera Abdallah Editing by Tomasz Janowski)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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