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Expert: Iraq will reject an Iranian request to use local currencies instead of the dollar in trade

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rocky
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Expert: Iraq will reject an Iranian request to use local currencies instead of the dollar in trade

Post by rocky on Mon 09 Jul 2018, 9:44 am

Expert: Iraq will reject an Iranian request to use local currencies instead of the dollar in trade
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BAGHDAD (Reuters) - Iraq's approval of any Iranian request to replace trade between the two countries in local currency instead of the US dollar has been ruled out by economic expert Majid al-Suri, while he pointed out that such an agreement would not be in favor of Iraq.
"Iraq can not apply trade with Iran in local currencies because the trade balance will be in favor of Iran and most of the trade is for its benefit," he told Iraq News.
He added that "the implementation of this agreement will work to store the Iraqi currency within Iran, which is not in the interest of Iraq, pointing out that" such a decision is not the competence of the Central Bank of Iraq only, but the authority of the Government of the Ministry of Finance in consultation with the Central Bank of Iraq and do not expect the bank The Central Bank of Iraq on such a matter. "
"A number of countries, including India, Russia, China, Brazil and South Africa, are trying to reduce the dollar's control over international trade and the trade war between China and the United States has resulted," he said.
The governor of the Central Bank of Iran and Crown Prince Ali Abdullah Saif announced on Sunday the follow-up of the bank to conclude monetary agreements with Iraq, Russia and Azerbaijan to deal with national currencies. Finished


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Photo: Iraq can not apply trade with Iran in local currencies

Post by rocky on Tue 10 Jul 2018, 4:09 am

Photo: Iraq can not apply trade with Iran in local currencies
July
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[rtl][rtl]Majed Al - Souri[/rtl]
[/rtl]
Follow-Up



The economic expert Majid al-Suri, that Iraq can not apply trade deal with Iran in local currencies because the balance of trade will be in favor of Iran and the majority of trade for its benefit.


"The image" in a statement, "The implementation of this agreement will work to store the Iraqi currency within Iran, which is not in the interest of Iraq."


He pointed out that such a decision is not only the competence of the Central Bank of Iraq, but the power of the government represented by the Ministry of Finance in consultation with the Central Bank of Iraq and do not expect the Central Bank of Iraq to agree on such an order.


Among the economic expert, he said that "there is a tendency to limit the control of the dollar on international trade, stressing that a number of countries , including India, Russia, China, Brazil and South Africa are trying to reduce the control of the dollar on international trade and the impact trade war caused between China and the United States of America. 

// Mother



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