Iran Chooses Euro as the Currency for Reporting, Publishing of Statistics, Information and Financial Data

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Nourlaw- 28 April 2018- Tehran-According to the proposal of the Central Bank of the Islamic Republic of Iran and in reference to Note 3 Article 7 of the Anti-Smuggling of Goods and Currency Act, approved in 1392 (2013) , the Council of Ministers in their session dated 29/01/1397 (18 April 2018) approved:
1.All of the ministries, governmental organizations and state-run companies are obliged from the date of announcing this decree to incorporate the euro as the basic currency for their reporting and publishing of statistics, information and financial data. Reports, statistics and information which were previously assessed in US dollars, shall be rendered for two years with both the US dollar and euro, When the time frame expires, only the euro will be used.
2.The reports, analysis and statistical data of ministries, governmental organizations and governmental companies in the current and the next year will be given in US dollar currency for preparing a comparison model to allow the possibility of assessing compatibility and evaluation of the tasks done.
3. The Central Bank of the Islamic Republic of Iran is obliged to continually announce and manage the parity rate of the Rial and euro as from the date of notification of this decree.
First Vice-President
Eshaq Jahanghiri

(Farsi source: Official Gazette 28 April 2018)