19927
Rial-Lira Trade Enters Into Force
Economy, Business And Markets

Rial-Lira Trade Enters Into Force

The currency swap agreement with Turkey has entered into force, an official in Iran-Turkey  Commercial Council told ISNA on Friday.  “Commercial transactions between the two neighboring countries are done in the Iranian rial and Turkish lira at the moment,” said Jalal Ebrahim, secretary-general of the  joint council.  Under currency swap agreements, transactions are carried out directly and easily. They are the best solution at the time of sanctions and can be further extended into post-sanctions era, he added.  Despite the recent deal, Ebrahimi noted that trade between the two nations slightly declined in the past few months mainly “due to the regional crisis, the Turkish election and an overall decline in Turkey’s exports.” Ebrahimi expressed hope that suitcase and border trade would grow in light of the new changes.

 

Short URL : http://goo.gl/0AJdSP

You can also read ...

A ceremony was held to mark National Export Day in Tehran on Oct. 21.
Iran’s National Export Day was marked in a ceremony held in...
Multilateral MoU to Expand INSTC
Railroad entities of Iran, Azerbaijan, Russia and Belarus...
CI Ratings Affirms Iran’s Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI), the...
Istanbul to Host Iranian Expo
The Turkish capital Istanbul will host a four-day exhibition...
S. Africa-Iran Business Forum Next Week
South Africa’s Department of Trade and Industry and its...
Banks Obliged to Set Up Compliance Department
The Central Bank of Iran in its latest directive publicized on...
Real Rial Rate Main Booster of Exports
Iranian exports are currently suffering as a result of an "...
BMW Offices Raided in Cartel Investigation
BMW’s headquarters were raided by European Union officials...

Trending

Googleplus