Iran stops using US dollar in response to Donald Trump's 'Muslim ban'
 

This is why you don't ban people from entering your country based on religion. This is just another unneeded distraction. Trump never should have said minority religions (christians, etc.) get priority status to enter America from the 7 banned Muslim countries.

How much worse is this going to get?

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Central Bank decision fraught with risk for Iran?s oil revenues, analysts say.

The Iranian government will no longer use the US dollar in official statements or for financial reporting, local media has reported.

The governor of the Central Bank of Iran, Valiollah Seif, made the announcement on Friday, adding that the country would switch to another common foreign currency or a basket with a ?high degree of stability? for all financial and foreign exchange reports.

The decision will go into effect at the beginning of the new fiscal year in March.

Iran does hardly any trade with the US thanks to decades of economic sanctions. The rial saw record lows against the dollar after Mr Trump?s election victory, plunging to 41,600 to the dollar at the end of December.

It is unclear whether the Central Bank will now pick up the Euro or currencies of trade partners China, Russia, Turkey, Azerbaijan or Iraq.

Iran?s most important export - oil - is priced in US dollars, which could complicate the proposed changes. Exchanging currencies on expected oil revenues of $41 billion (£32 billion) this fiscal year could jeopardise earnings, analysts have said.

Iran to stop using US dollar in response to Donald Trump's 'Muslim ban' | The Independent

Butthurt much?

They are not stopping using dollars....they are just not using the word in reports - read a little better

That's really biting the bullet the US dollar is at record high prices in FOREX.
They used to say years ago that crude oil was worth 1/10 the gold price per ounce -- ain't anymore.
There has to be a monetary basis of some sort.

And thus it begins.

Hmm...some other leaders in recent history also stopped using the us dollar...anyone know their names?

Glad to see it. Nice move, Iran. :thumbsup

Good

What good has Iran done for this world? AMERICA FIRST

First , Sadaam , then Ghadafi ....

That is why all countries need nukes to deter invasions by the USA .

I'm guessing they will use every dollar of that 1.3 BILLION dollars that former Pres. Obama sent them in CASH on airplanes last year.

But if they really want to stop using the U.S. dollar...they are welcome to send that ransom money back to the U.S. :)

A country opposed to America, opposes America. Get real folks.

Jeez ya'll are fucking stupid...they are not stopping using the dollar...they are stopping using the term "dollar" when they write and print reports. They still use the currency - just report it in a different currency terms.
Amazing that no one actually reads the news...just hears what they want to if it fits their own agenda :thumbsup