Iran’s government considers employing the Iraqi dinar in bilateral trade with Iraq in a bid to further curtail the dominance of the U.S. dollar. The annual turnover between the two neighboring nations exceeds $10 billion with millions of pilgrims and health tourists crossing the border each year.
Iran and Iraq Can Reduce Dollar Dominance by Using Dinar in Trade, Official Says
The government in Tehran is pushing for wider use of national currencies in foreign trade and is viewing the Iraqi dinar as an alternative to the dollar in transactions with Bagdad, regional media reported. Replacing the U.S. currency with the dinar in bilateral trade between Iran and Iraq would weaken the dollar’s supremacy, according to an Iranian official.
Speaking to Iran’s Mehr News Agency, the head of the Iran-Iraq Chamber of Commerce, Yehya Eshaq, made it clear that the transition to dealing in national fiats is a priority for the current Iranian government. “Most countries in the world are looking

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