Iran, India adopt Rupee in direct trade: official

An Iranian Foreign Ministry official said adopting Rupee in Iran-India trade was a proper decision which eliminated third players in mutual exchanges. Ahmad Sobhani who is Deputy Foreign Minister for Western Asia Affairs made the remark in a gathering of Iranian and Indian businessmen here Saturday morning. He said currently billions of trade exchanges between the two counties are carried out through a third country, stressing these third elements will be crossed out from the equation by adopting Rupee. India is a country with eight-percent economic growth, he said, adding that Iran could play the role of a hub in Tehran-New Delhi exchanges since India enjoys a good strategic position in North-South corridor. The official further hoped that the existing banking problems would be solved between the two countries.