Iran forex exchange underway in euro: Minister

IRNA – Iran’s banking relations with the European countries are underway in euro with no problem, Iran’s Minister of Finance and Economic Affairs Ali Tayyebnia said on Monday.

As for Iran’s forex exchange in dollar, the minister said there are restrictions to this end but the existing problems are not related to the nuclear sanctions but to the bans imposed on Iran for other reasons in the past, the minister told reporters.

The European banks which have close cooperation with American banks based on dollar, have faced some limitations for working with their Iranian counterparts, the minister noted.

He stressed that Iran’s forex exchange is mostly being madde in euro.
Expenses of Iran’s forex exchanges have remarkably reduced after removal of anti-Iran sanctions following implementation of the Joint Comprehensive Plan of Action (JCPOA) on January 16, 2016.