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Chief banker says Iran to use all currencies in international exchanges

Tehran, Dec 18, IRNA-Iran's top banker said on Monday that Iran will use all currencies, and not just the euro, in its international transactions.

"We are going to use many currencies, and not just the euro, in our system of payments in line with national interests," said Governor of Central Bank of Iran (CBI) Ebrahim Sheibani in the seminar of `A Survey of Islamic Banking Challenges'.

Sheibani said that some foreign banks too have called on Iran to use the euro as well as other currencies in the country's transactions.

Minister of Economic Affairs and Finance Davood Danesh-Jaafari had recently said that Iran is to follow a transaction mechanism on the basis of currencies other than the dollar in retaliation for the US anti-Iran banking policies.

"Since any transaction, made worldwide on the basis of dollar, should be checked in the Clearing House in New York, we decided in line with the the government's policies to carry out transactions in other hard currencies," said Danesh-Jaafari in a press conference recently on the sidelines of an e-banking conference.

He said Iran plans to minimize use of dollar in its hard currency basket as certain US banks tried to disrupt Iran's dollar-based transactions.

He said the move taken by Iran's banking system will in the long-run downgrade the use of dollar as a hard currency.

Elsewhere in his remarks, Sheibani put Iran's forex reserve fund assets at dlrs 10 billion.

... Payvand News - 12/19/06 ... --

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