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ABU DHABI / WAM
The Central Bank of the UAE has signed a Memorandum of Understanding (MoU) with the Reserve Bank of India (RBI) in Mumbai, to consider a Currency Swap Agreement between the two countries. Mubarak Rashed Al Mansoori, Governor of the UAE Central Bank signed the MoU on behalf of the UAE and Governor Dr Raghuram Rajan signed the MoU on behalf of the Reserve Bank of India. The MoU signals a new stage of cooperation, which will strengthen economic ties between India and the UAE.