13 minutes agoTurkey, Qatar make deal to hit America
Periskopi(8 years ago)
(8 years ago)Qatar and Turkey have signed a currency exchange agreement to increase liquidity and ensure financial stability, Qatar's central bank said several days after Doha promised $15 billion direct investment in Turkish markets. The agreement, which aims to boost co-operation among countries, was reached Friday. This agreement will [...]
The agreement, which aims to boost co-operation among countries, was reached Friday.
This agreement will create a two-way currency exchange line and facilitate trade exchange among nations, according to the Qatar central bank statement.
A currency exchange is an economic instrument that includes lending exchanges, where countries lend the same value in each other's coins and conduct trade using those coins.
Last week, Sheikh Tamim bin Hamad Al Thani, Emir of Qatar, approved a package of economic projects, investments and deposits in Turkey.
Funds for the first phase of the deal reportedly total $3 billion.
Turkey is currently struggling with a serious wave crisis caused by the escalation of US sanctions. Washington is applying economic pressure on Ankara over the arrest of US pastor Andree Brunson, who was charged with helping Turkey's failed military coup two years ago. Brunson has been facing up to 35 years in a Turkish prison.
