(MENAFN) IRNA news agency broadcasted on Saturday, October 24th, that the governor of Iran's central bank has declared new strategies to enhance the use of oil-for-goods deals between Iran and other countries.
Abdolnaser Hemmati posted on social media on Friday, October 23rd, saying:"The use of barter exchanges of oil for basic goods essential for the country will be expanded, along with current trade methods, to increase the volume of foreign trade and for a better usage of domestic production facilities."
He noted that the central bank and the secondary market have supplied foreign exchange with an estimated cost of USD18.5 billion since the start of the new Iranian year on March 20.
He added that the mentioned exchanges were under way due to the effect of the Covid-19 pandemic on exports from Iran, and energy prices dropping.
However, exports from Iran, especially energy related ones have been improving within the last few months, not to mention that non-oil goods exports have also increased which is helping the economy and market recover, while also encouraging foreign exchange in Iran, which the country needs, Hemmati concluded.
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