April 18, 2018 / 9:43 AM / Updated an hour ago

Iran switches from dollar to euro for its foreign transactions - state media

Reuters Staff

1 Min Read

LONDON (Reuters) - Iran has switched from the U.S. dollar to the euro as its official reporting foreign currency, state media reported on Wednesday.

Signs of U.S. dollar and Euro are seen at a currency exchange office in Istanbul, Turkey, November 15, 2017. REUTERS/Murad Sezer/File Photo

The decision was taken in a cabinet meeting as the government tries to manage the exchange rates and support the plunging rial.

Reporting by Bozorgmehr Sharafedin; Editing by Andrew Heavens