TEHRAN – The governor of the Central Bank of Iran (CBI) says use of localcurrencies in bilateral trade with Turkey would increase thanks to newagreements reached on the sidelines of a high-profile meeting betweenpresidents of the two countries.
Abdolnasser Hemmati said on Monday after a meeting with his Turkishcounterpart in Ankara that the two had agreed to increase the use of Iran’srial and Turkey’s lira in trade between the neighbors, Press TV hasreported.
He said in a post on his Instagram page that central banks of Iran andTurkey would seek to go beyond the current size of trade payments settledin local currencies, which he said is around 34 percent of the totalexchanges between the two countries.
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The announcement comes amid Iran’s efforts to use payment mechanisms thatcould protect trade with other countries from American sanctions.
