This Blog is to inform the public of current news occurring in Iran. All information written is from open source materials.

Wednesday, June 27, 2007

Getting Rid of Dollars

Iranian central bank officials have announced plans to deplete their cash reserve of dollars. The new monetary plan would seek to convert the Iranian foreign currency reserves from Dollars into Euros. Many economic experts have warned the regime to avoid such radical moves, (to get rid of Dollars, due to the high exchange rate of Euros), which they claim could hamper Iranian trade from expanding. These economic changes portray the depth of Iranian commitment to resist all influences of American society from entering. In addition, Iranian officials have been busy pressuring other OPEC members to follow suit by eliminating Dollar reserves, but their plan has by and large fallen onto deaf ears.

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