Iran to make more use of oil-for-goods barter deals: CBI governor

Governor of Central Bank of Iran (CBI) wrote in his Instagram account that in order to increase the volume of the country's foreign trade and make better use of domestic production facilities, in addition to current methods, the use of bartering oil in return for basic goods will increase.

Despite the spread of coronavirus and its impact on non-oil exports and falling oil and petroleum products prices in the first months of the current Iranian year (started March 20, 2020), the volume of foreign exchange supply by the central bank and the secondary market in the first seven months of the year was about $18.5 billion.

The growing trend of exports of crude oil and products, along with the acceleration of non-oil exports in recent months, has created better conditions for the supply of foreign exchange for imported goods, he said.

News Code 192425

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