US Treasury Secretary confirms Gulf and Asian allies request currency swap lines amid Iran war fallout
United States Treasury Secretary Scott Bessent has confirmed that several Gulf and Asian allies have requested currency swap lines from the US.These requests come as these countries seek to mitigate the economic fallout and energy shocks resulting from the ongoing US-Israel conflict with Iran.Bessent told a US Senate Appropriations Committee hearing that the swap lines would help stabilise financial markets amid the turmoil caused by the war.He noted that both the US and the United Arab Emirates would benefit from a proposed swap line, which involves central banks exchanging currency to provide liquidity during times of economic uncertainty.The Treasury Secretary... [Continue Reading]
360LiveNews | 23 Apr 2026 00:31 LONDON
