Iran's Financial Exchange with South Asian Countries Reached $5.6 bln
The financial exchange between the Islamic Republic of Iran and 8 South Asian countries increased 118 percent standing at $5.6 billion in the first half of 2010, Asian Clearing Union (ACU) reported.

According to the report, the total exchange between the 9 member states of ACU increased 75 percent exceeding $18 billion in the first half of the current year.
Asian Clearing Union (ACU) is the simplest form of payment arrangements whereby the participants settle payments for intra-regional transactions among the participating central banks on a multilateral basis. The main objectives of a clearing union are to facilitate payments among member countries for eligible transactions, thereby economizing on the use of foreign exchange reserves and transfer costs, as well as promoting trade among the participating countries. The ACU is a clearing houses/payments arrangements operating in various regions of the world. Iran, India, Bangladesh, Bhutan, Myanmar, Nepal, Pakistan, Sri Lanka and Maldives are the 9 member-states of the Union.
In the first half of 2010, Iran, after India, has had most financial interactions with other member states. India's financial exchange with the member states reached $7.98 billion showing 84% growth over the same period last year; while Iran's reached $5.6 billion increasing 118%.
Iran has been ranked first creditor in the Union giving $5.3 billion of credits to the member states; while the country has received $306 million of credits.
India has given $3.22 billion and received $4.7 billion of credits during the mentioned period.
Credits received and given by other member states come as follow, respectively: Bangladesh $1.94 billion, $89 million; Bhutan $25,000, $13.4 million; Nepal $5.3 million, $19.7 million; Pakistan $1 billion, $279 million; Sri Lanka $969 million, $85 million; Myanmar $1.17 million, $4.1 million; and Maldives $2.5 million, $5,000.