Currency

Pezeshkian proposes common currency to boost regional coop.

TEHRAN, Oct. 28 (MNA) – President Masoud Pezeshkian emphasized the importance of unity and collaboration among regional countries, particularly Islamic nations, proposing the idea of establishing a common currency to aid economic development.

Iran’s parl. committee approves new currency reform plan

TEHRAN, Aug. 04 (MNA) – Members of a committee of the Iranian parliament have voted in favor of a motion to reform the country’s national currency by removing four zeros from it and restoring an old currency subdivision named qiran.

Iran’s acting pres. suggests discussing SCO single currency

TEHRAN, Jul. 05 (MNA) – Iran’s Acting President Mohammad Mokhber has offered that introduction of single the currency of Shanghai Cooperation Organization (SCO) based on groundbreaking technologies should be seriously discussed.

Iran’s hard currency income up 18.6% y/y in June quarter: CBI

TEHRAN, Jun. 30 (MNA) – Figures from the Central Bank of Iran (CBI) indicate that the country's hard currency income increased by 18.6% in the quarter ending in late June compared to the same period last year.

Iran unveils digital currency to boost payment infrastructure

TEHRAN, Jun. 23 (MNA) – Iran unveiled the digital currency “CBDC” in a ceremony on Sunday attended by Governor of the Central Bank of Iran (CBI) Mohammad Reza Farzin and some senior CEOs of the country’s banks.

Moscow ready to start testing payments in digital currencies

TEHRAN, Mar. 03 (MNA) – Moscow is ready to start testing payments in digital currencies with China or countries of the Eurasian Economic Union, Russia's finance ministry said.

Iran, Oman call for using nat’l currencies in mutual trade

TEHRAN, Dec. 07 (MNA) –  Iran and Oman have signed two memoranda of understanding to boost bilateral cooperation and emphasized the importance of using their national currencies in mutual trade instead of the dollar.

To counter sanctions;

Russia, Iran must reduce trade dependence on currencies

TEHRAN, Dec. 05 (MNA) – Russia and Iran should develop a roadmap to reduce trade dependence on currencies that can be used as a sanction tool, Russian Foreign Ministry says.

With key partners;

Brazil seeks to use national currencies in trade

TEHRAN, Jul. 18 (MNA) – Brazil is interested in using national currencies in mutual payments with its key trading partners and is working on establishing relevant mechanisms, similar to the one already in place with Argentina.

Official:

BRICS currency to benefit Iran, undermine US dollar, euro

TEHRAN, Jul. 09 (MNA) – A senior Iranian diplomat hailed a plan by the BRICS member states to introduce a common currency in their international trade, emphasizing that the move will be a challenge to the dominance of the US dollar and the euro.

Putin says;

Shift to national currencies indicates end for US dollar

TEHRAN, Jun. 17 (MNA) – Russian President Vladimir Putin has stated the growing use of national currencies for cross-border exchanges signals the end of the hegemony of the US dollar.

Over 70% of Russia-China trade ties settled in Ruble, Yuan

TEHRAN, May 24 (MNA) – Amid the BRICS collective’s push to eliminate the reliance on the US dollar, Russian Finance Minister, Anton Siluanov, stated that more than 70% of trade between China and Russia is settled in their respective local currencies.

Iran, Russia to boost settlements in national currencies

TEHRAN, Feb. 12 (MNA) – Iran and Russia are cooperating in banking and are planning to ramp up the share of national currencies in mutual settlements, Russian deputy foreign minister, Andrei Rudenko, said.