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.
Relations were further tested by confirmation that Iran conducted a mid-range ballistic missile test over the weekend, which Irans foe Israel called a on the US to ensure did not go unanswered.
The countrys Defence Minister Hossein Dehghan reiterated on Wednesday earlier claims that the missile was not designed to carry nuclear warheads and therefore did not breach the terms of the 2015 nuclear deal.
Iran does hardly any trade with the US thanks to decades of economic sanctions. The rial saw record lows against the dollar after Mr Trumps 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.
Irans 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.
Source : http://www.independent.co.uk
US Congress also brought a bill for Use Of Force Against Iran
Here's the Bill
H.J.Res.10 - Authorization of Use of Force Against Iran Resolution
https://www.congress.gov/bill/115th-congress/house-joint-resolution/10/text
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