Iran is planning to ditch the use of the American currency after US President Donald Trump issued a travel ban on seven countries, including the Islamic Republic The Central Bank of Iran is seeking to replace the dollar with a new common foreign currency or use a basket of currencies in all official financial and foreign exchange reports. The move had already been in the offing but appears to have been expedited after Washington included Iran in a list of seven nations that are banned from entering the United States. Press TV reports: Valiollah Seif, the governor of the Central Bank of Iran, was quoted by domestic media as saying that 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 also said that the move would take effect from the start of the new fiscal year on March 21, 2017, the media reported. 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 US President Donald Trump to ban Iranians from entering the United States. Apart from Iran, [...]
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