CBI Chief: Iran to Replace Dollar with New Foreign Currency
Tue Jan 31, 2017 7:11
CBI Chief: Iran to Replace Dollar with New Foreign Currency
http://en.farsnews.com/newstext.aspx?nn=13951112001859
TEHRAN (FNA)- Governor of the Central Bank of Iran Valiollah Seif underlined
that the country is working hard to replace dollar with a new foreign
currency in its foreign transactions after US President Donald Trump ordered
a visa ban for citizens of seven Muslim countries, including Iran.
“Iran would either replace the US dollar with a new common foreign currency
or use a basket of currencies in all official financial and foreign exchange
reports,” Seif said on Tuesday.
Seif also said that the move would take effect from the start of the new
fiscal year on March 21, 2017.
Iran’s emerging switch to non-dollar currencies comes at a time that outrage
is building up in the country over an executive order by the new US
president to ban Iranians from entering the United States.
Apart from Iran, citizens of Iraq, Libya, Somalia, Sudan, Syria and Yemen
have also been banned from entering the US for a period of 90 days.
The move drew an immediate reaction from Iran with the country’s Foreign
Ministry pledging a response in kind.
Source: http://www.imra.org.il/story.php3?id=72115
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