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Russia, Algeria to develop direct contacts between banks

According to the declaration, joint efforts for the transition to national currencies in mutual trade will be encouraged

MOSCOW, June 15. /TASS/. Russia and Algeria have agreed to develop direct contacts between banks of the countries and promote the transition to payments in national currencies, according to the declaration of deepened strategic partnership signed by presidents of the two countries.

"Development of direct contacts between financial and banking institutions of the two countries," the declaration reads, among other listed priority areas for cooperation.

According to the declaration, joint efforts for the transition to national currencies in mutual trade will be encouraged.

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