India’s Rupee trade sets example; How Iran is ditching the U.S. dollar in Africa

Iran looks to be taking lessons from India in a bid to give more importance to trade in local currencies. The Islamic Republic is now planning to ditch trading in dollar and opt for Rial trade in Western African countries. The announcement was made during a joint conference, where Iran's president for economic affairs suggested setting up a bank to deal in local currencies to facilitate trade. He added that this will help the countries conduct commercial deals without the necessity of using Dollars and Euros. Watch this video to find out how India is inspiring other countries to promote their currencies.