28 May 2023 - 09:49

Development of commercial and monetary relations at 51st meeting of ACU in Tehran

51st meeting of Asian clearing Union was held in Tehran, in order to avoid de-dollarization and facilitate trade and relations of ACU members.
News ID : 140063

IBENA- 51th meeting of Asian clearing union was held at Central Bank in Tehran. This union was established in 1970s with aim of reducing need and dependence on international currencies, especially dollar. The members of this union, including 9 countries Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan and Sri Lanka are members. Additionally, Russia, Belarus and Afghanistan are also present at 50th summit. Islamic Development Bank also participated in this meeting.

In the meeting, Governor of Central Bank of Iran Dr. Farzin and his Russian counterpart on Wednesday, strengthening of commercial exchanges and use of national currencies of two countries in bilateral trade were emphasized.

Exchange of delegations of technical and specialized expertise of central banks of two countries with  aim of developing and deepening monetary and banking relations is considered in this direction and has been implemented, Dr. Nabiulina, Governor of Central Bank of Russian Federation, who attended as an observer country in the meeting, while emphasizing the strengthening of monetary and banking exchanges and optimal use of banking infrastructure of two countries in order to develop commercial and economic cooperation, stated.Development of commercial and monetary relations at 51st meeting of ACU in Tehran

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