Mubasher: The Iranian government on Wednesday decided to change its reporting currency for foreign amounts to the euro from the US dollar, according to state-run broadcaster Islamic Republic of Iran Broadcasting (IRIB).

The announcement comes at a time when political relations between the US and Iran have been strained owing to imposed sanctions on Iranian nuclear capabilities.

However, France-based investment bank Bpifrance said that it would offer euro-denominated credits to buyers of goods in Iran, according to Reuters.