August 19, 2018 / 8:42 PM / a month ago

Qatar and Turkey central banks sign swap agreement: Qatar central bank

DUBAI (Reuters) - Qatar and Turkey’s central banks have signed a currency swap agreement to provide liquidity and support for financial stability, Qatar’s central bank said on Sunday, days after Turkey’s Gulf ally pledged $15 billion in support.

Turkish lira banknotes are seen in this picture illustration in Istanbul, Turkey August 14, 2018. REUTERS/Murad Sezer/Illustration

The agreement, which was signed by the heads of the two central banks on Friday, will establish a two-way currency exchange line, the Qatar Central Bank said in a statement posted on its website.

Qatar’s Emir this month approved a package of economic projects, investments and deposits for Turkey, giving a boost to the battered lira currency, which has been hit by a widening currency crisis.

Reporting by Saeed Azhar in Dubai; Writing by David Dolan; editing by David Evans

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below