However, Seif’s announcement appears to be part of broader economic calculations in Tehran and not a knee-jerk reaction to Trump administration’s decision to ban Iranians.

Western media have quickly linked this decision by Iran to the January 28 executive order by President Donald Trump to ban all Iranian travelers to the United States. The current exchange rate is equivalent to 42350.0000. For the basic conversion, we use the midpoint between the buy and sell rates of USD to IRR at currency exchanges across the globe.

“In other words, we have to set a currency as the basis of financial reporting that has better stability and greater application in our foreign trade,” Seif said. As of today at 13:00PM UTC one us dollar is equal to 42,350.00 (IRR) or forty-two thousand three hundred fifty iranian rials. According to Iranian press reports, Tehran might opt to use the euro instead. Iran Rial Exchange Rate and History, Iran Currency Exchange Rate and History since 1975, Iranian Currency Exchange Rate Table and Exchange Rate History, Rial Exchange Rate. The head of the Iranian Central Bank, Valiollah Seif, has announced that Iran will stop using the American dollar as its currency of choice in its financial and foreign exchange reports from the new Iranian fiscal year that begins in March 2017.

Iran currency compare to us dollar