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China considering currency swap with Iran

China considering currency swap with Iran

Date: 5 January 2016 08:42

Tehran, Iran, January 3

By Mehdi Sepahvand – Trend:

The Chinese government has decided to swap currency with Iran, Deputy Chairman of Iran-China Chamber of Commerce Majid Reza Hariri said.

This comes after China recently succeeded in making yuan stand as an internationally credible currency.

However, Hariri said, it must be seen what method china will use for swapping currencies and when the intention turns practical, Mehr news agency reported January 3.

He went on to comment on Iran-China trade relations, asserting that China is expected to remain Iran’s top partner in 2016.

China is partner to 25 percent of Iran’s foreign trade.

In 2015, Iran-China trade fell by 34 percent after key goods such as oil, gas condensates, and iron ore lost much value.

Hariri also said Chinese President Xi Jinping’s visit to Iran has been made certain and will be paid in late January or early February.

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