UAE Says It’s Negotiating Dollar Swap With US

United Arab Emirates Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi poses for a portrait on the sidelines of the UAE-Chad Trade and Investment Forum in Abu Dhabi, United Arab Emirates, on Nov. 10, 2025. Amr Alfiky/Reuters

The United Arab Emirates said it’s discussing a currency swap line with the United States, an arrangement that would allow its central bank to tap U.S. dollars during periods of market stress.

“We have this discussion and conversation ‌with many, it’s part of an elite group that the U.S. is having this swap policy with. They are only having it with five countries,” UAE trade minister Thani Al ​Zeyoudi said at a conference in Abu Dhabi on May 4.