October 6, 2009 / 7:10 AM / 11 years ago

No need to replace US dlr for oil trade:Algeria

ISTANBUL (Reuters) - Algeria’s finance minister said on Tuesday that there was no need to replace the U.S. dollar as the currency used for oil trade.

“Oil producing countries need to stabilize revenues but ... I don’t see a need for oil trade to be denominated differently. But we are at the IMF conference where all sorts of subjects are raised and discussed,” Algerian Finance Minister Karim Djoudi told Reuters.

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