TEHRAN, Iran, Oct.24
Trend:
Bartering oil with necessary commodities would help Iran to increase trade volume with foreign countries and improve domestic production, said the Governor of the Central Bank of Iran, Abdolnaser Hemmati, Trend reports citing IRNA.
"In order to increase trade volume and expand domestic production capacities, using barter alongside other instruments would help expand the work of th eoil ministry ," said Hemmati.
"The Central Bank of Iran has supplied $18.5 billion to the secondary market in first seven months of the current year (started March 20,2020) for import, despite the coronavirus spread and its effect on non-oil export and reducing the price of oil and oil products during early months of the current Iranian year, " he posted in his instagram account.
"The growing trend of crude oil and oil products export alongside the rising non-oil export in recent months created better conditions for the Central Bank of Iran to supply foreign currency for importing necessary goods," he said.