Iran, Russia central banks stress using local currencies

The governors of the Central Bank of the Islamic Republic of Iran and the Russian Federation emphasized strengthening trade exchanges and using the local currencies in bilateral trade.

According to a report by the public relations department of the Central Bank of Iran (CBI), in the meeting with Governor of the Central Bank of Russia Elvira Nabiullina, the CBI chief Mohammad-Reza Farzin emphasized the need to increase banking and monetary exchanges between the two countries.

Farzin also said strengthening and accelerating the development of brokerage relations between commercial banks of Iran and Russia is on the agenda.

After referring to the vast commercial capacities and potentials that Iran and Russia have, the CBI chief further emphasized increasing the banking infrastructure cooperation between the two countries,

Referring to the potential of the Asian Clearing Union (ACU) member states, Farzin invited Russia to participate in the 51st edition of the ACU summit which started on Tuesday in Tehran. 

Nabiullina, for her part, stressed the strengthening of monetary and banking exchanges and the optimal use of the banking infrastructure of the two countries in order to develop trade and economic cooperation.

She also stated that "the exchange of technical and specialized teams of the central banks of the two countries with the aim of developing and deepening monetary and banking relations are considered important in this regard, which has already been done."

News ID 195383

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