Iran Dumps Euros to Buy dollars and US Treasuries instead

[CureCancer]

The exchange rate of Euro vs Dollar and other currencies is making changes not only in the plans of ordinary global citizens, but also the governments in regard to their foreign exchange reserves. Iran announced that it would divest 45 billion euros from its foreign exchange reserves and seek shelter by buying dollars and US Treasuries instead. Iran is the second country after China to realign its currency reserves due to the uncertainty in the Eurozone.
Markets do not anticipate that Iran’s divestment will have a major impact on the euro-dollar trade, which opened at 1.22 in early trading this morning. The announcement by Tehran was largely offset by a vote of confidence of larger economies such as Brazil, India and Japan.


http://www.huliq.com/9990/93851/iran...na-dumps-euros

[Infoproliferati]

Good info. The Eurozone is a cooking pot these days. And the Greek national debt situation didn't help either. I think the dollar is a safer bet for the time being.

[fab]

Oh, thta's what happened. I saw those charts travelling South.

[payperclick.biz]

this is a very very very bad move, iran has lost billions in this move. They just recently changed from us dollars to euros and started selling oil in Euros... they should stick with it till Euros pick up in value!

[DomainsInc]

pretty funny situaton seeing as how so many people called for the fall of the dollar due to countries switching to euros.