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31 October, 2009

Turkey Abandons U.S. Dollar In Trade With Iran, China

Turkey Abandons U.S. Dollar In Trade With Iran, China: "Turkey is switching to national currencies in trade with Iran and China, ending dependence on the U.S. dollar and the euro for about 20% of its commodity turnover, local media reported on Wednesday.

Turkey has already switched to settlements in national currencies with Russia amid weakening confidence in the greenback as the world's major reserve currency..."


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