Adoption of local currencies in the Indian Iraqi dealings

Adoption of local currencies in the Indian Iraqi dealings


 08/27/2013 12:00 AM

BAGHDAD - morning
praised a member of the Finance Committee MP Dler capable, Bembagesat both Iraq and India to agree to be economic transactions and trade of the two countries in local currencies, stressing that it will support the value of the dinar and make it desirable internationally.

said capable in a press statement that talks of the Iraqi delegation headed by Prime Minister Nuri al-Maliki and a ministers and economists, with the Indian side about the accreditation in business dealings between the two countries on local currencies and not the dollar and this measure will support the value of the dinar and improves positioned internationally.

said: that the Iraqi dinar is strong and covered with reserves much of hard currency and gold, especially during the recent period improved exchange rate dinar and significantly against the dollar, making the nations economic as large as India maintains the Iraqi dinar and deal him, this is an indicator of economic well for the Iraqi dinar.

This was confirmed Minister of Indian that both Iraq and the Indian Tbagesoa on strengthening bilateral economic relations, and the possibility of adopting local currencies Iraqi and Indian in the business dealings of the two countries instead of the U.S. dollar.

http://www.alsabaah.iq/ArticleShow.aspx?ID=52851

I had the impression from other articles that is was more a question of India running out of dollars ... but have a lot of gold ... and this was t obe more on the line of a gold exchange ... but I may have been mistaken, these translations always leave you guessing to one degree or another.