08 May 2023 - 17:17
Governor of Central Bank in a meeting with delegation of Trade and Industry of Oman:

Strategic policy of Central Bank of Iran is to cut dollar in foreign exchanges and commercial transactions.

Strategic policy of Central Bank of Iran is to cut dollar in exchanges, for which we have valid economic and political reasons, Governor of Central Bank said.
News ID : 140060

IBENA- strategic policy of central bank of Iran is to cut dollar in foreign and trade exchanges, and we have economic and political reasons for this strategy, because Americans use dollar as a political tool. On the other hand, other currencies in the world are growing, especially in Asia, Mohammad Reza Farzin; Governor of central bank said in a meeting with delegation of trade and industrial of Oman.

Iran is ready to engage in commercial interactions with Oman and our country's economic partners using international methods of monetary exchange chamber, multilateral monetary agreement and bilateral monetary agreement, referring to good negotiations and commitments between Iran and Oman in last year regarding development of monetary and banking relations as well as commercial relations between two countries, Governor of Central Bank stated.

By political will that has been formed between Iran and Oman, the volume of economic relations between two countries has grown by 40% in last year and has reached one billion and 800 million dollars, which volume of exchanges can definitely be carried out using national currency of two countries in the form of a bilateral monetary agreement or monetary exchange chamber, Farzin mentioned expansion of trade relations between Iran and Oman last year and added.

Use of bilateral or multilateral monetary agreement methods Also, monetary exchange room among member countries of Asian Exchange Union will definitely lead to an increase in trade relations and reduction and elimination of dollar exchanges from cycle of business transactions between these countries, In continuation of this meeting, Farzin pointed to holding of Asian Exchange Union (ACU) meeting in June of this year in Tehran and invited governors of central banks of member and observer countries as well as neighboring countries including Oman and added.

Definitely, solution is to use a monetary exchange chamber, a bilateral monetary agreement, and National currencies in trade relations between Iran and Oman is a constructive way to expand economic cooperation, and Oman is also ready to put this issue on agenda after examination, according to this report, Qays Bin Mohammad Al Youssef, Minister of Trade, Industry and Investment Development of Oman, also pointed to increase in monetary and banking relations between Iran and Oman and stated.

We were really surprised by Iran's industries and developments in this field and we are fully ready to expand our cooperation in the field of industry along with monetary and banking relations, Minister of Trade, Industry and Investment Development of Oman also pointed to holding of Tehran Expo and said.

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