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Iran to dump the US dollar in response to Trump's travel ban
Tehran plans to ditch the use of the American currency in financial reporting after US President Donald Trump issued a travel ban on seven countries, including Iran.According to the local news agency PressTV, the Central Bank of Iran is seeking to replace the dollar with a new common foreign currency or use a basket of currencies in all official financial and foreign exchange reports.The governor Valiollah Seif said it would come into force in the new financial year starting March 21, 2017.The agency quotes Seif recommending using currencies with a “high degree of stability.”The decision comes after President Trump temporarily banned citizens of Iran, Iraq, Libya, Somalia, Sudan, Syria, and Yemen from entering the US.After Trump’s election, the Iranian rial saw record lows against the dollar. On December 27 it plunged to its all-time low of 41,600 rials to the dollar.The head of the central bank said the US did not have a significant role in Iranian trade and could be replaced with currencies of Iran’s key partners like the European Union, China, and the United Arab Emirates.https://www.rt.com/business/375789-iran-dollar-trump-ban/
Ephesians 6:12 For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.