China and Iran won’t be using USD in their bilateral trade
According to Iranian daily Financial Tribune, Tehran and Beijing have agreed on de-dollarisation of their mutual trade settlement. Chinese political advisor, Chen Yuan and Iranian central bank officials have reached to this agreement. As per news reports, Yuan-Rial bilateral monetary agreement is aimed to boost the volume of bilateral trade between China and Iran. They try to emulate the Euro zone experience from the Europe. However, in global context both countries are aiming to end the pivot position of US dollar in longer run. It may take long time to…
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