Indian Minister suggests paying for trade with Iraq in local currency

Baghdad (IraqiNews.com) In a private report from New Delhi for Iraqi News “The Indian Minister of Trade and Ministry, Anand Sharma, mentioned that his country is studying the possibility of paying for trade with Iraq by using local currency represented by Iraqi Dinar and Indian Rupees instead of the US Dollar to face the changes and drop of the value of the Indian Rupees.”

The Indian Minister assured that “The issue of using local currencies in trade exchanges for both countries will be discussed during the mutual meetings between the Iraqi Prime Minister Nouri al-Maliki and the Indian Ministers.”

The rate of trade between Iraq and India has reached currently about USD 21 billion.