Iran has reached an agreement with the United Arab Emirates (UAE) to facilitate trade movement between their countries using the Emirati currency, the dirham. In another deal with Baghdad, Tehran agreed to a new mechanism for the settlement of payments related to Iraqi energy arrears to Iran.
Agreements with the UAE and Iraq will likely have a positive impact on Iran’s currency, the rial, and foreign currency market, said Secretary of Iran's Supreme National Security Council (SNSC) Ali Shamkhani.
