Ditching Dollar in Trade ‘Iran’s Strategic Policy’: CBI Governor Says

Ditching Dollar in Trade ‘Iran’s Strategic Policy’: CBI Governor Says

TEHRAN (Tasnim) – The strategic policy of the Central Bank of Iran (CBI) is to set aside US dollar in trade and FOREX exchanges with other countries, the CBI chief said.

Mohammad Reza Farzin made the comment in his meeting with Omani Minister of Commerce, Industry and Investment Promotion Qais bin Mohammad Al Yousef in Tehran on Monday.

During the meeting, Farzin pointed to the full readiness of the Central Bank of Iran to remove the US dollar from trade and economic transactions between Iran and the Sultanate of Oman.

Suitable ways have been paved for carrying out the trade and economic transactions based on the national unit of currency with trade partners including Oman completely, the governor emphasized.

The Americans use the dollar as a political tool to pressurize countries while other currencies in the world are significantly growing especially in the Asia region, he continued.

Elsewhere in his remarks, Farzin pointed to the constructive talks held between Iranian and Omani officials on the development of monetary and banking relations and reiterated that Iran is ready to use bilateral and multilateral monetary treaties in trade transactions with Oman and the country’s trade partners.

Emphasizing the use of joint debit cards between the monetary and banking networks of the two countries, he said necessary talks have been held in this regard with the officials of the Central Bank of Oman.

Farzin also referred to the Asian Clearing Union (ACU) Summit, planned to be held in June in Tehran, and noted that the use of bilateral and multilateral monetary treaties between the ACU’s member states will certainly result in increasing trade ties and also removal of dollar exchanges in trade transactions between these countries.

The Omani trade and economic delegation arrived in Tehran on Sunday to participate in the 5th Export Potential Exhibition of the Islamic Republic of Iran dubbed "IRAN EXPO 2023". 

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