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Iran and Russia sign agreement on payment systems integration

BAKU: Governor of the Central Bank of Iran Mohammad Reza Farzin has announced the signing of the first currency agreement with Russia, Trend reports.

“During a bilateral meeting between the heads of the central banks of Iran and Russia at the Bank of Russia’s financial congress held in St. Petersburg on July 4, a currency agreement was signed to ensure the liquidity of national currencies in commercial transactions,” the Iranian governor said.

Farzin added that Russia and Iran have finalized the integration of Russia’s Mir payment system with Iran’s Shetab. Iran’s Shetab payment system will likely be launched in Russia by the end of August.

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Source: Trend News Agency