TEHRAN: The State Bank of Pakistan (SBP) has allowed the local traders to replace dollar with euro in trader with Tehran.
The central bank, in a recent meeting, told the stakeholders that due to some US sanctions, which are still in place, it was not possible at this stage to open letters of credit (LCs) in dollars in trade with Iran.
The local businessmen could now start trade with Iran following the lifting of sanctions by the United Nations under a nuclear deal between Tehran and world powers.
Heading a high-ranking delegation, Rouhani will arrive in Islamabad on Friday at the invitation of his Pakistani counterpart Mamnoon Hussain and Prime Minister Nawaz Sharif. President Rouhani’s two-day visit to Pakistan will take place in response to Nawaz Sharif’s last year trip to Iran.
