Iran and Iraq are on the threshold of an agreement for foreign currency

Iran and Iraq are on the threshold of an agreement for foreign currency

2020-07-21

Iran and Iraq are on the threshold of an agreement for foreign currencyThe Director of International Affairs of the Iranian Central Bank, Hamid Kanbari, has announced that it is close to reaching an agreement regarding foreign currency between Iran and Iraq.

Kanbari, who accompanied the Iranian Foreign Minister, Mohammad Javad Zarif, on his visit to Baghdad last Sunday with the aim of conducting banking negotiations with the Iraqi side, said that “the discussions were useful and constructive between the two sides, and the final stage of the Iraqi Prime Minister and his accompanying delegation will reach Tehran today, Tuesday.”

He added, “In the event that this is achieved, it is expected that a significant foreign exchange will flow into the (local) market, amounting to several billion, which will cover a large part of the demand for foreign currency.”

The Central Bank of Iran and its Iraqi counterpart signed a memorandum of cooperation related to banking and financial ties last year, between Qanbari, that the negotiations of the day before yesterday come as an extension of the memorandum concluded, and that the visit of the Iranian Central Bank Governor Abdel Nasser Hemati to Iraq last month comes in the same framework.

burathanews.com