Iran-Iraq dinar exchange to end dollar dominance in trade

Yahya Al-e Es’haq made the remark in an interview with IRNA where he emphasized that dealing with the national currencies of different countries is one of the goals of the incumbent Iranian government. 

“Most countries in the world are looking for breaking the American hegemony in their exchanges, and the use of national currencies can help accelerate this process,” he said. 

Stating that annually, more than 10 billion dollars of goods and services are exchanged between the two countries, he added that the trading system with the national currencies of the two countries can contribute to the depth of these relations. 

He noted, “The arrival of three million religious tourists to Iraq and the large number of health tourists from this country to Iran can help in the exchange of dinars instead of dollars.”

Iran and Iraq should be able to reduce the dominance of the dollar by maximizing exchanges with the national currencies of the two countries, he pointed out. 

“Iran-Iraq interaction in this field can be an important measure and we can benefit the most with proper follow-up”, Al-e Es’haq concluded. 

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