Treasury Secretary Scott Bessent said Wednesday that many Persian Gulf allies along with a number of Asian nations have requested foreign exchange swap lines with the US, and pointed to the potential for such arrangements to support dollar-denominated lending overseas.
“Many of our Gulf allies have requested swap lines,” Bessent said in answering questions at a Senate Appropriations subcommittee, a day after President Donald Trump confirmed that a currency swap with the oil-rich United Arab Emirates was under consideration. “Numerous other countries, including some of our Asian allies, have also requested them.”
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