Turkey to trade in local cash with Iran and others

‘Turkey has proposed to establish a mechanism to trade in local currencies with Iran as well as China and Russia.
Turkish President Recep Tayyip Erdogan was quoted by media as saying that he had already proposed Russian President Vladimir Putin to conduct trade between the two countries with local currencies.
“I proposed Putin the following: Let’s do our trade in local currencies. Whatever I buy [from you] I shall pay you in Russian ruble, and whatever you buy from me make the payment in Turkish Liras,” Turkey’s Hurriyet newspaper quoted Erdogan as saying.’
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