KEBBI GOVT DONATES 10 HILUX VEHICLES TO BOOST SECURITY ON SOKOTO–BADAGRY SUPER HIGHWAY. (PHOTOS).
The National Bank of Ethiopia (NBE) and the Central Bank of the United Arab Emirates (CBUAE) have signed a preliminary memorandum of understanding (MoU) on the use of the two countries' national currencies in bilateral transactions.
The MoU also encourages financial and banking cooperation through knowledge-sharing, ultimately supporting the development of their respective financial markets whilst facilitating bilateral trade and bolstering direct investment.
In addition, Abu Dhabi and Addis Ababa, which is facing a significant foreign exchange shortage, signed a bilateral national currency swap agreement of up to 3 billion dirhams for 46 billion birr, or nearly $817 million.
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