Middle East Eye: Dumping Dollar Would Damage Iran Without Hurting U.S.

By SIMON CONSTABLE


Recent threats from Tehran to dump the US dollar are likely to be ineffective in their aims and harmful to the Iranian economy, economists say.
The move came earlier this year in response to US President Donald Trump’s ban on people travelling to the US from Iran and six other predominantly Muslim countries.
At that time, an Iranian central bank official indicated that the country’s financial reports would abandon using the dollar as the unit of accounting. Instead the bank would adopt a different currency, or a basket of currencies, which would have a “high degree of stability”, according to the official. Read more here.
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