Minister of Finance says Iran seeks trade with China and Russia in yuan and roubles and wants to eliminate euro and dollar in its trade with these two countries
The Euro has rallied a bit on Tuesday, reaching towards the 1.23 handle. This is an area that has a significant amount of resistance.
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) […]
Head of the Investment and Consultancy Services at Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIM) says Iran can become an ‘investment hub’ for EU countries given its geographical position and large educated work force. According to a report by Monetary and Banking Research Institute in Tehran, Ferial Mostafi, the head of the TCCIM […]
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 […]