26 July 2022 - 16:31
Governor of Central Bank announced;

Ruble- Rial is a measure to neutralize dominance of dollar/ Exports to Russia increase

Referring to opening of Ruble-Rial Indicator in foreign exchange market, Governor of Central Bank said: This action will be a serious step in development of economic relations between Iran and Russia.
News ID : 140007

IBENA- Issue of economic relations between Iran and other countries, especially neighboring countries, is one of government's priorities. Following President's visit to Russia last year and trips of our colleagues in Central Bank during this period to Russia and finally my visit to Moscow led to a good memorandum and several economic bases were taken into consideration, Dr. Ali Saleh Abadi, while congratulating opening of ruble-rial trading Indicator in integrated foreign exchange market, said.

He stated that one of important issues is use of national currencies between two countries, today we see that exporters who have rubles can supply in market in an agreed manner, he added: the framework, like other indicators of market, is organized in a competitive manner and based on supply and demand.

Governor of central bank stressed that this action of supply of ruble will be strengthened in near future, and market maker can also be present in market, adding: volume of transactions for this indicator will increase in near future.

currently 5,000 medical students are in Russia, so this measure will be an important measure to provide currency for these students, and also for Central Asian countries that trade with rubles, they can use this market, Salehabadi continued.

Russians who are working in Iran can use this platform to meet their foreign exchange needs, governor of Central Bank added.

This important step will increase our exports to Russia, while we have good capacities and we should increase our market share from Russia, He continued.

According to Governor of central bank, this action will be a serious step in development of economic relations between Iran and Russia. Considering conditions of world, where use of dollar has become a political tool, by taking action today to use national currencies between countries, we can neutralize tool of domination that threatens trade of countries, He added.

 

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