Iran Starts Exports to Iraq, Afghanistan Using Rial: Top Banker
TEHRAN (Tasnim) – The governor of the Central Bank of Iran (CBI) announced the start of export of products to Iraq and Afghanistan using the Iranian currency, rial.
The Central Bank of Iran has been considering plans for the employment of the “offshore rial” for many months, Mohammad Reza Farzin said.
As soon as the plan comes into effect, the Iranian exporters will be able to conduct financial transactions with the importers in Iraq and Afghanistan via the offshore rial, he added.
The CBI governor noted that the offshore rial plan has been much in demand by the business people in the northeastern city of Mashhad who export products to neighboring Afghanistan.
The necessary regulations on the offshore rial have been made by the Central Bank of Iran, as two banks have so far launched the plan, he said, adding that the new offshore currency trading plan will take effect in all Iranian banks.
