Iran has repeatedly sought to reduce dependence on the US dollar via a package of measures, including increased trade using the euro and other currencies as well as the establishment of a secondary currency market.

Tehran has taken the US dollar off the website sanarate.ir, the Central Bank of Irans official currency rate reporting platform, replacing it with Chinas yuan. The website is typically used to display the average rates of Irans most tradeable currencies, including the dollar, the euro and the United Arab Emirates dirham. However, no dollar rates have been seen on the website as of Monday.

In July, the CBI announced the establishment of a secondary currency market in Iran to allow exporters of non-oil goods to sell their foreign currency earnings to importers of consumer products, part of Tehrans efforts to reduce its dependence on the US dollar.
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