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Replacing the dollar with another currency for travelers to the Islamic Republic of Iran

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rocky
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Replacing the dollar with another currency for travelers to the Islamic Republic of Iran

Post by rocky on Wed 28 Nov 2018, 6:26 am

First topic message reminder :

Replacing the dollar with another currency for travelers to the Islamic Republic of Iran



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weslin3
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Re: Replacing the dollar with another currency for travelers to the Islamic Republic of Iran

Post by weslin3 on Sat 01 Dec 2018, 9:46 pm

I don't know where to put this but what is with the decimal points??

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US dollarUSD1190.000
EuroEUR1342.796
Pound sterlingGBP1523.200
Canadian dollarCAD894.602
Swiss francS.FR1191.072
Swedish kronaSEK130.554
Norwegian kroneNOK138.311
Danish kroneDKK179.962
Japanese yenJPY10.457
Chinese YuanCNY171.065
Australian dollar AUD860.727
Special drawing rights SDR1641.807
Gold for 24-ounce Gold1434061.500


Last edited by weslin3 on Sat 01 Dec 2018, 9:49 pm; edited 1 time in total (Reason for editing : left out link)
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Lobo
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Re: Replacing the dollar with another currency for travelers to the Islamic Republic of Iran

Post by Lobo on Sun 02 Dec 2018, 12:30 pm

Don't know for sure, but read that they are needed for trading and are called pips.
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Re: Replacing the dollar with another currency for travelers to the Islamic Republic of Iran

Post by Proven on Tue 04 Dec 2018, 5:22 pm

Iran & Iraq consider replacing US dollar with local currency in trade
Published time: 20 Nov, 2018 14:06
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© Getty Images / Walter Bibikow


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Apart from barter trade, Tehran and Baghdad are mulling the idea of using the Iraqi dinar for mutual transactions to reduce reliance on the US dollar amid banking problems Iran is facing due to US sanctions.
“Considering the problems that have emerged in dollar-based banking transactions, a joint proposal between Iran and Iraq is using Iraq’s dinar in trade,” Iranian ambassador to Baghdad Iraj Masjedi said, as quoted by Iran’s Fars News Agency.
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The announcement comes two weeks after Washington brought into action the second round of anti-Iranian sanctions that target the country’s oil, shipping, and financial sectors. The previous batch of penalties, which came into effect in August, hit cars, carpets, metals trading, as well as access to the US dollar.
According to Masjedi, the current trade turnover between Iran and Iraq totals $12 billion and the countries plan to increase the figure up to $20 billion. The official said that Baghdad has recently been under strong pressure from the White House over its business dealings with Iran, its top trade partner.
Apart from energy resources, Iranian exports to Iraq include livestock, food items, plastic products, construction materials and vehicles.
“The Iraqis need Iran’s natural gas, electricity, food items and industrial materials,” Masjedi said. “If exports of these to Iraq are stopped, there will be problems not only for Iran but also for the Iraqis.”
Last week, Reuters reported that Baghdad had been looking for Washington’s approval to import Iranian gas and energy supplies in exchange for food items. Iraq, as well as some other of Iran’s partners, was granted a waiver from the US, allowing it to gradually reduce energy purchases from the Islamic Republic. However, Iraqi authorities say the exemption of only 45 days is not enough to stop importing Iranian gas and oil.
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Lobo
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Re: Replacing the dollar with another currency for travelers to the Islamic Republic of Iran

Post by Lobo on Tue 04 Dec 2018, 5:28 pm

Thanks Proven, it would seem to me that the CBI would have to RV for this to work - can't purchase much at the program rate.
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Re: Replacing the dollar with another currency for travelers to the Islamic Republic of Iran

Post by jbigg on Tue 04 Dec 2018, 7:51 pm

IRR
1 IRR = 0.0284001 IQD
1 IQD = 35.2111 IRR
Iraqi Dinar to Iranian Rial Conversion
Last updated: 2018-12-05 01:50 UTC
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weslin3
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Re: Replacing the dollar with another currency for travelers to the Islamic Republic of Iran

Post by weslin3 on Tue 04 Dec 2018, 11:15 pm

Understanding the decimal point that they have introduced better....  Like we use the decimal point $1.25..
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jbigg
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Re: Replacing the dollar with another currency for travelers to the Islamic Republic of Iran

Post by jbigg on Wed 05 Dec 2018, 9:06 pm

If that decimal point moves to the right three times ( the lifting of 3 zeros ) the dinar will be worth .84 to the dollar. Close to the "EQUALIZATION" of the dinar.

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Re: Replacing the dollar with another currency for travelers to the Islamic Republic of Iran

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    Current date/time is Mon 10 Dec 2018, 12:27 am