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Iran Replaces Dollar With Euro

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Iran replaces Dollar with Euro in FX

Sun, 20 Sep 2009 09:58:03 GMT

Iran's President Mahmoud Ahmadinejad has ordered the replacement of the US dollar by the euro in the country's foreign exchange accounts.

The September 12 edict was issued following a decision by the trustees of the country's foreign reserves, Mehr News Agency reported.

Earlier, the Islamic Republic of Iran had announced that the euro would replace the greenback in the country's oil transactions. Iran has called on other OPEC members to ditch the sinking dollar in favor of the more credible euro.

Following the switch, the interest rate for the facilities provided from the Foreign Exchange Reserves will be reduced from12 to 5 percent.

Since being introduced by the European Union, the euro has gained popularity internationally and there are now more euros in circulation than the dollar.

The move will also help decouple Iran from the US banking system.

http://www.presstv.ir/detail.aspx?id=10666...ionid=351020102

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Oh fun.

Big question is - will anyone follow?

this is one of the reasons sadham had to go, he was about to dump the dollar and sell oil in euro's.

only thing that surprises me here is that iran didn't do it sooner.

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israel to decide iran has wmd capabilities more like

us/israel - same thing really,

Nonsense. Grow up you left wing twit and stop believing everything Socialist Worker tells you :angry:

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Guest KingCharles1st

Does this mean we have to transfer our second helicopter to the Iranian front line?

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Does this mean we have to transfer our second helicopter to the Iranian front line?

It's out of action at the minute. It's waiting on a spare part. I think it's call Gordon.

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Uh oh. I wouldn't like to live in Iran now.
I can't think of any time when I'd have liked to live in Iran, particularly since the Islamic revolution in 1979.

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US to decide Iran has WMD?

Inadvertently left behind by a high-profile 'peace envoy' known to us all?

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Guest DissipatedYouthIsValuable
Why yes, yes he did.

How does the game go again?

Start at the top and keep going until The Great Will of America is satisfied.

1 Bribe them

2 Assassinate them

3 Go to war with them

Is there a Shah available for light duties?

Edited by DissipatedYouthIsValuable

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Does this mean we have to transfer our second helicopter to the Iranian front line?

Rubbish we have loads of helicopters Gordon said so. We have so many we can spare at least a dozen to play pretty war games for Ch 5 off HMS Ocean in the South China Sea.

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