ISTANBUL - Turkiye and the UAE signed three agreements on Thursday to increase financial cooperation, strengthen trade relations, and exchange local currency.

The Turkish Central Bank added in a statement, that the agreements were signed by The Governor of the Turkish Bank Fatih Karahan, and his UAE counterpart Khalid Balama, in the presence of senior officials from both sides.

The statement pointed out that the currency exchange agreement was signed with a nominal value of 198 billion lira, and 18 billion dirhams (USD 4.9 billion).

Governor Karahan affirmed reflect the strategies of both countries to expand the bilateral trade relations using local currencies and to facilitate trade and investments among stakeholders. 

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