That's right Ahmadinejad, boost our currency.
Pretty funny how less than a year ago Iran made a big deal about shifting their foreign currency reserves away from the dollar and our "crumbling economy", only to shift back as soon as the sh*t hit the fan in Europe.
Iran to Dump 45 Billion Euros for Gold Bullion and Dollars
The Central Bank of Iran is set to dump a whopping 45 billion euros in exchange for gold bullion and dollars as Gulf states also prepare to flee from the ailing single currency amidst debt turmoil in Europe that threatens to disintegrate the entire region.
According to the Iranian state website Press TV, Iran’s central bank has already begun converting its euro reserves into gold and dollars as a response to the “downward spiral” of the euro, in the first of a three phase movement to flee from the currency.
The report also claims that Gulf states are also beginning to switch their euro reserves into dollars and gold as some forecast the single currency could sink to parity with the U.S. dollar by next year.
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