Nematzadeh: Trade in Lira, Rials to strengthen Iranian, Turkish currencies

IRNA – Minster of Industries, Mines and Trade Mohammad-Reza Nematzadeh said on Wednesday that trade in Lira of Turkey and Iranian Rial will boost both sides’ national currencies.

In an exclusive interview with IRNA, Nematzadeh said Turkey has offered trade deal in Lira of Turkey and Rials of Iran, which can help increase level of trade exchanges between the two countries.

Following serious fluctuations in foreign currencies in Turkey and fall of Turkey’s Lira, the country’s president invited people to support their national money and said Russia, Iran and China have decided to exchange trade with their national currencies and have taken very good measures to that end.

The Iranian and Turkish central banks should mull the issue, he said.

On change of trade balance between Iran and Turkey to the benefit of Turkey, he said the figures indicate that ignoring oil and gas the trade balance will be to the benefit of Turkey but with regards to oil and gas in the transactions, the trade balance will be to the benefit of Iran.

Iran and Turkey have agreed to increase volume of their trade exchanges, he said.