Seif had earlier been reported to have stated that “because Iran conducts the lion's share of its trade deals with the EU, China and the UAE.it is left with the two options of "selecting a basket of currencies or choosing the currency that plays the biggest part in foreign trade.” Interestingly, this Iranian announcement generated very little attention inside Iran itself even though Western outlets publicized it. of your trip either in US Dollars/ Euros or have it exchanged to Rial. Convert To Result Explain 1 IRR: USD: 0.0000236128 USD: 1 Iranian Rial 0.0000236128 US Dollars as of : 100 IRR: USD: 0.002361 USD: 100 Iranian Rials 0. However, Seif’s announcement appears to be part of broader economic calculations in Tehran and not a knee-jerk reaction to Trump administration’s decision to ban Iranians. The official currency in Iran is called Iranian Rial which is also known as IRR. The current exchange rate is equivalent to 0.000020. For the basic conversion, we use the midpoint between the buy and sell rates of IRR to USD at currency exchanges across the globe. Western media have quickly linked this decision by Iran to the January 28 executive order by President Donald Trump to ban all Iranian travelers to the United States. 1,000 IRR to USD Iranian Rials to US Dollars As of today at 00:00AM UTC one thousand iranian rials is equal to 0.0236 (USD) or Zero us dollars 2 cents. ![]() “In other words, we have to set a currency as the basis of financial reporting that has better stability and greater application in our foreign trade,” Seif said. According to Iranian press reports, Tehran might opt to use the euro instead. The head of the Iranian Central Bank, Valiollah Seif, has announced that Iran will stop using the American dollar as its currency of choice in its financial and foreign exchange reports from the new Iranian fiscal year that begins in March 2017.
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