RT: Iran moves away from US dollar in foreign trade


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Published time: January 24, 2015 14:11

Reuters/Raheb Homavandi

Reuters/Raheb Homavandi

Iran is stopping mutual settlements in dollars with foreign countries and agreements on bilateral swap in new currencies will be signed in the near future, the Central Bank of Iran (CBI) has said.

“In trade exchanges with foreign countries, Iran uses other currencies, including Chinese yuan, euro, Turkish lira, Russian ruble and South Korean won,” Gholamali Kamyab, CBI deputy head, told the Tasnim state news agency.

He added that Iran is considering the possibility of signing bilateral monetary agreements with several countries on the use of other currencies.

Kamyab believes bilateral currency swap agreements will ease trade and economic transactions between Iran and other states.

View image | gettyimages.com

Iran is not the first country to move away from the US dollar. In 2014, Russia and China agreed on swaps and forwards in foreign currencies, a move aimed at reducing the influence…

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