Governor of the Central Bank of Iran (CBI) Mohammad-Reza Farzin has said that the country is scheduled to finalize a plan for using “offshore rial” in exchanges with a number of neighboring countries by the end of the current calendar year to March 20.
He made the remarks at a Sunday meeting of the dialogue council of the government and the private sector in the northeastern province of Khorasan Razavi.
Farzin said that this mechanism has been devised for the settlement of exchanges of goods and services which will facilitate trade with countries like Afghanistan and Iraq.
The CBI chief stated that offshore currencies are among tools that are used by some countries so as to give a boost to the use of their national currencies in trade and help manage their forex reserves.