Iran cancels US dollar from its trade foreign

[Markinsa]

Iran cancels US dollar from its trade foreign

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Muammar Ahmed

Saturday 24/01/2015 - 20:40

 

 

Deputy President of the Central Bank of Iran, "Gholam Ali Kamiyab," not to use his US dollars from now on in trade exchanges with foreign countries. 

According to "Kamiyab" told Iranian Tasneem news, the use of national currencies of countries with which the trade occurs in exports and imports, adding: "Iran will use from now on in their trade and financial transactions with foreign countries and other currencies Turkish Kallirh, and Chinese yuan, the Russian ruble, The South Korean won, and the euro. " 

Was quoted by the Anatolia news agency on "Kamiyab" that Iran is planning to conclude a currency exchange agreements with some countries, noting that those conventions that will trade and economic matters between Iran and facilitate those countries.

 

[Francie26]

I'm slow on such matters, I freely admit, so what does this mean for us?

Edited January 25, 2015 by Francie26

[yota691]

Iran bans the dollar in foreign trade

 

25-01-2015 11:44 AM

 

Free -

The Governor of Iran's central bank, Ghulam Ali Kamiyab, his decision not to deal in US currency in terms of trade with the outside world, both in imports or exports. 
The news agency 'Tasneem' the Iranian news about Ali Kamiyab as saying that his country had decided 'not to use the US dollar from now on in foreign trade. ' 
Iranian official said Tehran would replace the dollar and other foreign currencies such as the euro and the Turkish lira and Chinese yuan and the Russian ruble. 
and moving Iran to conclude currency swaps with several countries agreements, according to Ali Kamiyab, without mentioning the countries involved in these agreements and the date signed. 
used Iran Chinese yuan instead of the dollar to sell oil to Beijing, which is the largest trading partner of Tehran.

 

[coorslite21]

An this is the country Obama wants to negotiate with, and ally up with.  How naïve can he be??????

[coorslite21]

Means that Iran is not our friend, even if Obama wants them to be.  Since the early 70's all the oil in the world has been bought/traded in Petro dollars....USD....

 

Many countries are abandoning that process now and trading straight up....currency to currency. 

 

This does make sense, however it will leave the US with a huge glut of USD as all of these countries that used to have to hold sizable amounts of USD in their reserves won't need to.  The US has printed it's way into its own armageddon, the world has noticed and countries such as the BRICS nations are now applying the pressure.

[yota691]

Experts: Iran's decision for the dollar "forced"

Iran is facing a problem in remittances as a result of sanctions

 

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Sunday, January 25, 2015 - 15:00 Abu Dhabi 

Abu Dhabi - Sky News Arabic

Reduce Economists and Financial importance was quoted by the news agencies for the deputy governor of Iran's central bank of that country "no longer use the US dollar in business dealings with other countries", pointing out that it was due to international sanctions that make dollar transfers to and from Iran difficult.

The news agency Tasneem Iranian semi-official quoted Gholam Ali Kmyab, Deputy Governor of the Central Bank, as saying: "Iran used to trade with other other currencies of countries, including the Chinese yuan and the euro and the Turkish lira and the Russian ruble and South Korean Won."

He cited economists talked with them, "Sky News Arabic" repeated crises in the conversion of Iranian oil sales revenue for India and forced Tehran at a time to import goods and products, Indian, or the resolution of the Indian rupee exchange.

Often attributed India's reason for the delay in payment of the difficulty of conversion, as most financial transactions are settled through the two main centers in New York, Zurich and as a result of US and European sanctions on Iran could not transfer.

Iran faces the same problem with importers of its oil and gas, particularly in Asia, such as China and South Korea.

Insiders say Iran with institutions outside of Iran that they face a problem in getting their dues, which are often delayed because of the difficulty conversions and ultimately be transferred directly in cash outside the banking system.

And those suffering from the problem of the lack of value of the benefits when you convert the value of the Iranian rial adopted by Tehran at the official rate against the dollar and other currencies.

He says one of the experts involved in the Iranian economy, this problem will be solved as soon as the lifting of sanctions, first because Iran's main export of the international dollar-denominated energy, as well as possible and imports after the lifting of sanctions.