The Central Bank of Iran (CBI) is seriously pursuing the policy of de-dollarization and intends to use alternative options to accelerate the global trend, says CBI Governor Mohammadreza Farzin.






“It should be noted that de-dollarization is one of the important policies which we are sensitive about,” Farzin said on Tuesday during an open session of the parliament.

According to the CBI governor, Iran will host a meeting of the Asian Clearing Union (ACU) in the near future, which will bring together all nine member states and several central bank governors from regional and Asia-Pacific countries.

He added that the meeting will accelerate the global trend of de-dollarization.

The ACU aims to facilitate settlement of payments on a multilateral basis and promote the use of participants’ currencies.

“In fact, bartering, rather than using the dollar; reaching bilateral monetary agreements, which is being finalized with several countries; and multilateral monetary agreements are the three main topics of the aforementioned international meeting that will help materialize de-dollarization,” Farzin explained.

Iran has announced its decision to move away from the US dollar and has acted on the decision in cooperation with other independent countries.

On Sunday, Iranian President Ebrahim Raisi ordered the CBI to lay the ground for conducting foreign trade transactions using Iran’s national currency rial.

Farzin said on Monday that de-dollarization is a strategic policy pursued by the CBI, adding that the US is exploiting the dollar as a political tool.

By IRNA