Chinese 100, 50, 20, 10 and 5 yuan bills and Russian 1,000 and 100 ruble bills - Sputnik International, 1920
Economy
Get breaking stories and analysis on the global economy from Sputnik.

Iran Discussing Use of Rial in Trade With Russia, Iraq, Afghanistan

© AFP PHOTO/ATTA KENARE20000 rial banknote bearing a portrait of Iran's late founder of islamic Republic Ayatollah Ruhollah Khomeini
20000 rial banknote bearing a portrait of Iran's late founder of islamic Republic Ayatollah Ruhollah Khomeini - Sputnik International, 1920, 13.05.2024
Subscribe
TEHRAN (Sputnik) - The Central Bank of Iran is working on a scheme that will allow it to use the national currency in financial exchanges with Russia, Iraq and Afghanistan, the regulator's deputy governor, Mohsen Karimi, said on Monday.
Karimi said Iran was looking to pay for non-essential Russian imports using the rial pegged at an agreed exchange rate. He estimated potential trade exchanges in this category at between $1 billion and $1.5 billion.

"At the moment, the idea of using the international rial is being discussed with three counties — Russia, Afghanistan and Iraq. In Russia's case, work is almost done and the project is about to be implemented," he was quoted as saying by the ISNA news agency.

A worker polishes gold bullion bars at the ABC Refinery in Sydney. File photo. - Sputnik International, 1920, 09.05.2024
Economy
BRICS Bloc’s Bullion Buy Up Buoys Trend Toward Dedollarization
The Iranian Embassy in Russia said in March that Russian Central Bank Governor Elvira Nabiullina hosted Iranian Ambassador Kazem Jalali for talks on banking cooperation. The two countries linked their banking messaging systems in January in a bid to increase financial transactions amid Western sanctions.
Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала