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India and Turkey consider possibility of abandoning dollar

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India and Turkey consider possibility of abandoning dollar

India and Turkey are likely to discuss the possibility of abandoning the dollar in mutual settlements and switching to the national currency, President Recep Tayyip Erdogan said on the Indian-Turkish business forum in New Delhi during his visit to India.


“Export and import transactions may be conducted in national currencies, which will reduce the negative impact of currency fluctuations” - Anadolu news agency quoted Erdogan. According to him, the transition to payments in trade in Turkish Lira and Indian rupee will have a positive impact on the economy of the two countries.

According to the President, the potential of trade cooperation between Turkey and India has not been fully used.

“It's time to start the discussion on a draft agreement on broad economic partnership between the two countries,” Recep Erdogan said.

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