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Iran Currency Market Gearing Toward Euro
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Iran Currency Market Gearing Toward Euro
by Ponee Wed Mar 07, 2018 3:14 pm
Iran Currency Market Gearing Toward Euro
Tuesday, March 06, 2018
The ban imposed by the Industries Ministry on import orders based on US currency seems to be a win for the European currency.
Announced last week, the ban blocks imports priced in the US dollar for Iranian traders and is in line with the recent policy of the government and the Central Bank of Iran for sidelining the dollar.
According to Reza Boostani, an economist, the measure will pave the way for the Iranian foreign exchange market to have more transactions in euro.
"The use of dollar [in trade] is no longer easily done due to international restrictions and this increases the cost of transactions," Boostani was quoted as saying by Tehran Chamber of Commerce's website. https://goo.gl/zBrbyT
Tuesday, March 06, 2018
The ban imposed by the Industries Ministry on import orders based on US currency seems to be a win for the European currency.
Announced last week, the ban blocks imports priced in the US dollar for Iranian traders and is in line with the recent policy of the government and the Central Bank of Iran for sidelining the dollar.
According to Reza Boostani, an economist, the measure will pave the way for the Iranian foreign exchange market to have more transactions in euro.
"The use of dollar [in trade] is no longer easily done due to international restrictions and this increases the cost of transactions," Boostani was quoted as saying by Tehran Chamber of Commerce's website. https://goo.gl/zBrbyT
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Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
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