A slew of current figures supports the trend, as the US dollar's share of trade between Moscow and Beijing dropped to a record low of 46 percent in the first quarter of 2020.

TEHRAN (Iran News) – President Recep Tayyip Erdogan called on Turks to convert their foreign currency to Turkish lira, asking them to “leave the dollar”. “Leave the dollar and the rest. Let’s convert to our money, the Turkish lira. The Turkish lira doesn’t lose value anymore. Let’s show our patriotism like this,” Erdogan said, World […]

TEHRAN – The Governor of Iran’s Central Bank says the country has fully ditched dollar in its trade with Russia and Turkey and most of its trade with those countries are in national currencies and some part in euro.

Governor of the Central Bank of Iran (CBI) Abdonnaser Hemmati said the country uses the national currencies in the trade transactions with Russia and Turkey.

TEHRAN - Governor of the Central Bank of Iran (CBI) Abdonnaser Hemmati said enemies have hatched secret plots to hit the country’s foreign exchange market, calling for more efforts to foil the conspiracies.

The use of the US dollar to put pressure on other countries will lead to the creation of an alternative world currency, costing the dollar its world currency status, a top Russian deputy told on Wednesday. Anatoly Aksakov, who heads the Russian State Duma Financial Committee, said the dollar gained its “world currency” status in […]

TEHRAN – Iranian-German economist Mohssen Massarrat has said Iran should use the euro and maybe the yuan instead of the U.S. dollar in its transactions to hurt the U.S. economy. In an interview with the Shargh newspaper published on Sunday, Massarrat said such action has a low risk due to the Shanghai Cooperation Organization (SCO) […]

Iran’s financial system has intensified its efforts to establish ties with a number of countries based on the national currencies, as the U.S. sanctions against the country have complicated transactions in dollars. In this line, Iran made an agreement in last October with Turkey on using local currencies in trade transactions between the two countries […]

TEHRAN- The Iranian cabinet on Wednesday ordered all state-run organizations and companies to replace U.S. dollar with euro in reporting their financial statements, IRNA reported. The government also put the central bank in charge of managing and announcing rial-to-euro exchange rate continually. The decision is made as part of the country’s effort to reduce its […]

Central Bank of Iran Governor Valiollah Seif said Tue. that the decision to replace dollar with euro in the country’s foreign trade transactions will be implemented with more determination this year. Governor of the Central Bank of Iran (CBI) attended an open session at the Parliament this morning to discuss the recent foreign exchange fluctuations in […]