Iran limits use of euro in calculations
Due to stagnation in the European economy, which hit the euro, the Central Bank of Iran has presented a new economic strategy, which involves transferring the Iranian foreign exchange reserves amounting to 45 billion euros into dollars and gold, Press TV channel reported.
The new bank monetary policy emerged amid a new phase of economic recession in European countries such as Greece and Spain, and caused a drop in the cost of a single European currency against the dollar on world markets.
There are growing fears that the economic crisis is likely to have a negative impact as well to other countries in the eurozone.
Meanwhile, some sources reported to Iranian daily edition of "Jaam-e-Jam" that a new economic strategy of the central bank should be implemented in three phases, the first of which has already begun.
Other countries, such as the Gulf countries, also reported that there would be important steps for the transfer of foreign exchange reserves from euros to dollars and gold.