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  • 09-10-19

    Turkey inks local currency pact with Russia

    (MENAFN) Turkey was declared to have secured a deal with Russia on escalating their usage of local currencies while conducting joint trade.

    Berat Albayrak, Turkish Finance and Treasury Minister, signed the agreement with his Russian counterpart Anton Siluanov.

    The agreement will boost demand of commercial institutions for the Turkish Lira and Russian Ruble, along with the formation of a suitable finance structure.

    Under the deal, the use of the Russian National Payment Card (MIR) and Financial messaging system of the Bank of Russia (SPFS) in Turkey will be improved.

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