CNBC4/21/2026Business
White House discusses UAE currency swap as Iran war devastates Gulf ally's economy
Trump says willing to help UAE, but Federal Reserve would have final say on swap line
Quick Look
- The White House is discussing offering a currency swap line to the UAE as the U.S. war with Iran devastates the Gulf nation's economy.
- Iran has fired missiles at U.S. allies and closed the Strait of Hormuz, choking off oil exports the UAE depends on.
- President Trump said he would help if possible, calling the UAE a good ally that invested over $1 trillion in the U.S.
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The White House is discussing offering a currency swap line to the UAE as the U.S. war with Iran devastates the Gulf nation's economy. Iran has fired missiles at U.S. allies and closed the Strait of Hormuz, choking off oil exports the UAE depends on. President Trump said he would help if possible, calling the UAE a good ally that invested over $1 trillion in the U.S. The Federal Reserve would ultimately decide on any swap line, which would be an unusual expansion beyond major central banks.
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This article was originally published by CNBC.
