Iran gained $5 billion on shift from U.S. dollar
OPS_admin | Nov 26, 2009 | Comments 0
Iran has gained $5 billion through its policy of shifting away from the U.S. currency in favors of the euro, state television reported on Monday, citing Central Bank Governor Mahmoud Bahmani.
Since 2007, Iran has received 85 percent of its oil income in currencies other than the U.S. dollar, Iran’s English-language Press TV reported on its web site.
“Iran has considerably reduced the total of U.S. dollars in its currency basket,” Bahmani said.
Press TV did not give additional detail on how Iran has benefited from reducing the role of the U.S. unit in its transactions.
Iran, the world’s fifth-largest oil exporter, says a weak U.S. currency is eroding its purchasing power. The Islamic state is under U.S. and U.N. sanctions over its disputed nuclear program.
Full Story Iran gained $5 billion on shift from U.S. dollar: state TV – washingtonpost.com.
OPS: Saddam threatened to do this but never actually did it. Well, now we will attack them for sure.
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