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Trump says currency swap with UAE is under consideration

'If the UAE had a problem ... we would be there for them,' he says

Reuters April 21, 2026 1 min read

US President Donald Trump signs an executive order encouraging more research into ibogaine, next to U.S. Health and Human Services (HHS) Secretary Robert F. Kennedy Jr., Joe Rogan, and Americans for Ibogaine CEO W. Bryan Hubbard, in the Oval Office of the White House in Washington, D.C., April 18, 2026. REUTERS

President Trump said on Tuesday that the United States was considering helping the ‌United Arab Emirates financially and a currency swap with the Middle East nation was under consideration.

"It is," Trump told CNBC when asked if a currency swap with the UAE was ⁠under consideration, calling them a good ally.

"They're really led by incredible people ... I mean, I'm surprised, because they are really rich," Trump said.

"If I could help them, I would, I mean, we're helping them much more with what we're doing with the war," Trump said, referring to the US and ‌Israel's ⁠war with Iran.

The Wall Street Journal reported that the UAE's central bank governor raised the idea of a currency swap line with US Treasury Secretary Scott Bessent ⁠and Federal Reserve officials in meetings in Washington last week, in case the war plunges the oil-rich country ⁠into a deeper crisis.

"If the UAE had a problem — I find it hard to believe — but ⁠if they had a problem, we would be there for them," said Trump.