Iran’s Oil Bourse Will Start Operations Feb. 17, IRNA Reports

Iran’s oil exchange will start operations on Feb. 17, the official Iranian news agency IRNA said, citing the country’s oil minister.

The Iranian rial will be used for all transactions on the Tehran Oil Bourse, Gholamhossein Nozari said today, according to IRNA.

Iran, the second-largest producer in the Organization of Petroleum Exporting Countries, was originally expected to start its own oil-trading market in 2005.