Iran, Russia to use national currencies in bilateral trade
Tehran, Iran, Sept. 30
By Milad Fashtami - Trend:
Head of Iran-Russia Joint Chamber of Commerce Asadollah Asgaroladi said that the chamber is studying a plan to replace the two country's national currencies - rial and ruble - for their bilateral trades.
"A Russian bank is supposed to establish a branch in Tehran, transfering the money to businesspersons at the exchange rate of the free market," he explained, Iran's Mehr News Agency reported.
"The bank will transfer the money in 3-5 days," he said, adding that the Central Bank of Iran will announce its stance on the plan in two months.
"Iranian Bank Melli branch in Moscow will also help to transfer money," he noted.
Head of Tehran Chamber of Commerce Yahya Al-e Es'haq said on September 22 that bank would facilitate money transfers.
During the Russian delegation's visit to Tehran earlier this month, the country officially requested Tehran to increase its agricultural exports to Moscow in order to meet the country's domestic demands.