Turkey, Russia, Iran use national currencies in trade

Sep 25, 2019, 3:18 PM

News ID: 83490780

Turkey, Russia, Iran use national currencies in trade — Governor of the Central Bank of Iran (CBI)

Tehran, Sept 25, IRNA –Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati said on Wednesday that Iran ans Russia have agreed to carry all financial transactions with national currencies and that Iran and Turkey carry about 30 to 40 percent of trade with national currencies and the rest with Euro.

Abdolnasser Hemmati told reporters that Iran dollars has been excluded from trade and economic activities of Iran with Russia and Turkey.

"We do not trade with these countries now with the dollar," he said.

If we also mention the euro sometimes, we have in fact considered the euro as the basis for the conversion so that if the national currency of the two countries falls in value, the trade partner will not be subject to loss.

"This process is gradually removing the dollar from the exchange cycle, many countries are now willing to trade with their national currency so that the US can move on," Hemmati said, adding that their transactions are not monitored.

Meanwhile, Russian President Vladimir Putin on Sept 17, said in a press conference that Russia has reached an agreement with Iran's President Hassan Rouhani about trade with national currencies.

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