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[size=38]Iran begins an export project to Iraq in the riyal currency[/size]
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December 30, 2023[You must be registered and logged in to see this link.]
Baghdad/Al-Masala Al-Hadath: The Governor of the Central Bank of Iran, Mohammad Reza Farzin, announced today, Saturday, the start of an export project to Iraq in the Iranian rial currency.
The Iranian Fars News Agency quoted Farzin as saying, on the sidelines of a meeting of the government and private sector council, that “the issue of settling Iranian exports via the rial currency outside the borders has been studied by the Central Bank for several months, and that its entry into force will address the requirements of exporters to Iraq and Afghanistan.”
He added, "This issue is one of the demands of Mashhad's merchants for export to Afghanistan, and through the implementation of the Riyal Offshore Project (riyals outside the borders), merchants will be able to benefit from it instead of foreign currency."
The Governor of the Central Bank of Iran pointed out that “the regulations for the cross-border rial project have been formulated by the Central Bank, and in practice two banks have started this project, and soon it will be circulated to all the country’s banks.”
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