Business And Markets

Iran Parliament's Think Tank Has Misgivings About Scrapping USD

MRC Has Misgivings About Scrapping USDMRC Has Misgivings About Scrapping USD

The Majlis Research Center says a parliamentary bill wanting to scrap the US currency from Iran’s overseas transactions would further add to the already detrimental effects of US sanctions targeting Iran’s economy. 
In an analytical report on the cost and benefit of the draft, the MRC says its provisions don’t take into account the role of foreign exchange policies and interaction of the dollar with the domestic economy.
The think tank argues that although the USD has a meager share in the Iran’s forex market, it is still the dominant currency and a credible unit for converting other currencies.
Published on the official MRC website, the report says if the proposed bill becomes law it will “certainly be harmful and create major problems for the forex market.”


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