De-dollarization main focus of upcoming ACU meeting: CBI governor
De-dollarization will be the main focus of the upcoming Asian Clearing Union (ACU) meeting, according to the governor of the Central Bank of Iran (CBI).
“The main topics of the meeting are the strengthening of barter, and bilateral and multilateral monetary agreements,” Mohammadreza Farzin said, according to IRNA.
He explained that the 51st meeting of the ACU will be held in Tehran on May 23-25.
“The governors of the central banks of nine member states of this union have been invited. Of course, we have also invited some observer members,” he added.
Farzin reiterated that the main goal of the meeting is to strengthen barter transactions among member states, enable them to trade using their national and local currencies, and to follow up on bilateral and multilateral monetary agreements.
Iran has announced its decision to move away from the U.S. dollar and has acted on the decision in cooperation with other independent countries.
Earlier this month, Iranian President Ebrahim Raeisi ordered the CBI to pave the ground for conducting foreign trade transactions using Iran’s national currency, the rial.
Addressing an open session of Parliament on May 9, Farzin asserted that the forthcoming ACU meeting will accelerate the global trend of de-dollarization.