Business And Markets

MRC Calls for Currency Swap Deals

MRC Calls for Currency Swap DealsMRC Calls for Currency Swap Deals

The Majlis Research Center, the influential research arm of the parliament, has stressed the need to start currency swap deals with the main trading partners to help keep the economy immune against hostile US sanctions. 
"Transferring money is a key challenge for manufactures wanting to import raw material. Currency swap between central banks outside the purview of SWIFT could be a solution for skirting the sanctions," the MRC said. 
It estimates that deals with China, the UAE, Turkey, South Korea, India, Japan and Italy could help protect at least half of Iran’s total foreign trade against sanctions. 


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