Iranian President Ebrahim Raisi has asked Central Bank of Iran (CBI) to lay the ground for conducting foreign trade transactions using Iran’s national currency rial amid efforts in the country to ditch the US dollar from financial ties with other countries.
Speaking in a Cabinet meeting on Sunday, Raisi referred to plans by some countries to reduce and eliminate the US dollar from their trade settlement mechanisms.
He then ordered the CBI to provide the conditions required for conducting trade transactions in rial with other countries.
The move comes amid efforts in Iran, China, Russia and many other countries to de-dollarize their foreign trade.
Raisi’s remarks came as Iran is a fifth editions of its export potentials exhibition entitled IRAN EXPO 2023. The Iranian president said products exhibited in the fair by domestic companies is a source of pride.
“All sectors should contribute to the growth and improvement of the quantity and quality of manufactured products, especially those produced by knowledge-based companies,” said the Iranian president.
