‘Iran ditches dollar in transactions with several countries’

December 11, 2018

TEHRAN- Iran has made mutual monetary agreements with some countries on the way to abolish U.S. dollar in its financial transactions and the issue will be incrementally generalized to other countries in future,” the governor of the Central Bank of Iran (CBI) announced in a meeting with Iranian economists on Monday, IRNA reported.

Briefing the attendees about CBI’s measures during the four past months, Abdolnaser Hemmati added that Iran has activated its financial transactions with several countries without any reliance of U.S. dollar.

In late April, Iranian cabinet ordered all state-run organizations and companies to replace U.S. dollar with euro in reporting their financial statements.

The country’s financial system has intensified its efforts to establish ties with a number of countries based on the national currencies, as the U.S. sanctions against the country have complicated transactions in dollars.

HJ/MA

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