Black People : Iran moves away from US dollar in foreign trade

Discussion in 'Black People Open Forum' started by RAPTOR, Jan 25, 2015.

  1. RAPTOR

    RAPTOR Well-Known Member MEMBER

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    Iran is stopping mutual settlements in dollars with foreign countries and agreements on bilateral swap
    in new currencies will be signed in the near future, the Central Bank of Iran (CBI) has said.

    “In trade exchanges with foreign countries, Iran uses other currencies, including Chinese yuan, euro,
    Turkish lira, Russian ruble and South Korean won,”
    Gholamali Kamyab, CBI deputy head, told the
    Tasnim state news agency.

    He added that Iran is considering the possibility of signing bilateral monetary agreements with several
    countries on the use of other currencies.

    Kamyab believes bilateral currency swap agreements will ease trade and economic transactions
    between Iran and other states.

    Iran is not the first country to move away from the US dollar. In 2014, Russia and China
    agreed on swaps and forwards in foreign currencies, a move aimed at reducing the
    influence of the US dollar and foreign exchange risks.

    Read more: http://rt.com/business/225919-iran-switches-from-dollar/
     
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