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International Conference on Abandoning the Dollar to be Held by Iranian Central Bank Governor

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Ziad Najjar
Ziad Najjar is an Egyptian author who studied business and finance in the United States and has a keen interest in media. He combines his expertise in these fields to create informative and engaging works accessible to a broad audience.

Iran’s Central Bank Governor Mohammad Reza Farzin announced that his country will host a conference next month to discuss the abandonment of the dollar in financial transactions and work on a multilateral monetary agreement.

Farzin said today, Tuesday, that the Asian Financial Settlement Association (ACU) will soon hold its meetings in Tehran, and among its most notable works is the elimination of the dollar from transactions and work on a multi-monetary agreement.

He pointed out that “since the beginning of the Iranian year (March 20, 2023), more than 11 billion 840 million dollars of foreign currency have been allocated, of which we have saved 6 billion 738 million dollars, which were transferred to the bank accounts of economic figures and the population.”

Farzin stressed that “the figures do not confirm the high level of inflation, since the sources of foreign exchange and liquidity are in good condition.”

Source: ISNA

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