[Newsbot]

Title: Iran to Ditch US Dollar in Official Reports | Financial Tribune
Category: Business
Posted By: martin14
Date: 2017-01-31 11:25:02

[martin14]

https://financialtribune.com/articles/e ... al-reports

[martin14]

$1:

Iran will stop using the US dollar as its currency of choice in its financial and foreign exchange reports from the new fiscal year that begins in March, announced the governor of the Central Bank of Iran late Saturday.

"Iran's difficulties [in dealing] with the dollar were in place from the time of the primary sanctions and this trend is continuing, but we face no limitations regarding other currencies," Valiollah Seif also said in a televised interview as reported by CBI's official news website.

Seif gave strong hints that the country may opt for euro in releasing its key economic reports.

Stressing that the US dollar makes up a meager portion of the country's foreign trade, the official said it would not be logical for the US currency to be the base currency for economic reports under the current circumstances.

"In other words, we have to set a currency as the basis of financial reporting that has better stability and greater application in our foreign trade," he said.

Stopping the dollar for reporting purposes is one thing.

Stopping the dollar for pricing oil is another.

[BartSimpson]

Iran is a sovereign country and this is their decision to make. I hope it works out for them.

[raydan]

BartSimpson BartSimpson:

I hope it works out for them.

Liar!

[BartSimpson]

raydan raydan:

BartSimpson BartSimpson:

I hope it works out for them.

Liar!

[BRAH]

BartSimpson BartSimpson:

Iran is a sovereign country and this is their decision to make. I hope it works out for them.

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