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
