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Disclosure of the main currency used in Iran’s trade with Iraq
2024-08-27 | 06:16
9,920 views
Alsumaria News-Economy
Member of the Board of Directors of the Joint Iranian-Iraqi Chamber of Commerce, Shaaban Foroutan, revealed today, Tuesday, that the
bulk of trade between Iraq and Iran at the level of merchants and exporters is carried out through the Iranian riyal. Forutan said in statements to Iranian media,
“Most Iranian exporters now work with the riyal in trade with Iraq, and financial transactions between the two countries will continue without using the Iranian riyal, that is, in the dollar as well.
This does not mean the complete elimination of the dollar, except that a large portion of merchants carry out their transactions.” Without the dollar. He stated that
“the obligation to trade in dollars does not include all product groups, except that the
xchange of riyals for dollars cannot be implemented due to the sanctions imposed on banks, and
riyal traders earn from selling goods in the Iraqi market through their contacts with the stock exchanges of Iraq and Iran or a third country such as the United Arab Emirates.”
"They do not have the possibility of that direct settlement." He pointed out that
"the supply of Iranian goods faced a problem in the Iraqi market represented by the multiple rise in the prices of goods in Iran within a year, while prices are expected to rise only once a year."
https://www.alsumaria.tv/news/economy/498212/الكشف-عن-العملة-الرئيسية-المستخدمة-في-تجارة-ايران-مع-العراق
2024-08-27 | 06:16
9,920 views
Alsumaria News-Economy
Member of the Board of Directors of the Joint Iranian-Iraqi Chamber of Commerce, Shaaban Foroutan, revealed today, Tuesday, that the
bulk of trade between Iraq and Iran at the level of merchants and exporters is carried out through the Iranian riyal. Forutan said in statements to Iranian media,
“Most Iranian exporters now work with the riyal in trade with Iraq, and financial transactions between the two countries will continue without using the Iranian riyal, that is, in the dollar as well.
This does not mean the complete elimination of the dollar, except that a large portion of merchants carry out their transactions.” Without the dollar. He stated that
“the obligation to trade in dollars does not include all product groups, except that the
xchange of riyals for dollars cannot be implemented due to the sanctions imposed on banks, and
riyal traders earn from selling goods in the Iraqi market through their contacts with the stock exchanges of Iraq and Iran or a third country such as the United Arab Emirates.”
"They do not have the possibility of that direct settlement." He pointed out that
"the supply of Iranian goods faced a problem in the Iraqi market represented by the multiple rise in the prices of goods in Iran within a year, while prices are expected to rise only once a year."
https://www.alsumaria.tv/news/economy/498212/الكشف-عن-العملة-الرئيسية-المستخدمة-في-تجارة-ايران-مع-العراق
