Click to Print This Page
June 3, 2010
No. 27517

Iranian Daily: Iran Returning To Dollar

The conservative Iranian daily Jam-e Jam reports that due to the fall of the Euro relative to the dollar,  the Iranian government has decided to convert €45 billion in foreign exchange reserves to dollars.

According to the report, Iran's Central Bank is working to reduce the use of Euros in international transactions.

It should be noted that Iran's move from the dollar to the Euro was political, and at the orders of Iranian President Mahmoud Ahmadinejad.

Source: Jam-e Jam, Iran, May 31, 2010


Please recycle
The Middle East Media Research Institute (MEMRI) is an independent, non-profit organization providing translations of the Middle East media and original analysis and research on developments in the region. Copies of articles and documents cited, as well as background information, are available on request.
MEMRI holds copyrights on all translations. Materials may only be used with proper attribution.

The Middle East Media Research Institute
P.O. Box 27837, Washington, DC 20038-7837
Phone: [202] 955-9070 Fax: [202] 955-9077 E-Mail: memri@memri.org
Search previous MEMRI publications at our website: www.memri.org