Qatar and Turkey's central bank sign currency swap agreement to provide liquidity and financial stability

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 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.

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.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)