Local Currencies

EghtesadOnline: South Korea says it has reached a deal with Iran to use local currencies in mutual trade between the two countries instead of the US dollar.

EghtesadOnline: Iran and Russia are currently conducting bilateral trade in their local currencies, rial and ruble respectively, as well as euro, a former official of Iran-Russia Chamber of Commerce said.

EghtesadOnline: During President Hassan Rouhani's visit to China, the two countries signed several agreements to boost trade and financial ties, including an agreement to use their respective currencies.

EghtesadOnline: Governor of the Central Bank of Iran Valiollah Seif said the prospect of Iran and China using local currencies in bilateral trade will eliminate any difficulties arising from the fallout of the US decision to quit the nuclear deal Iran signed with world powers in 2015.