Binance News
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UAE Central Bank Follows Federal Reserve with 25 Basis Point Rate Cut
According to Jin Ten data reports, on December 11, after the Federal Reserve announced a 25 basis point interest rate cut, the Central Bank of the UAE lowered its benchmark interest rate by 25 basis points to 3.65%. Since 1997, the UAE has closely pegged its currency, the dirham, to the US dollar, so each time the Federal Reserve changes its interest rates, the Central Bank of the UAE adjusts its rates accordingly.
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