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Saturday, December 08, 2007

Iran Drops the Dollar

clipped from

Dollar dropped in Iran asset move
Iran is to shift its foreign currency reserves from dollar to euro and use the euro for oil deals in response to US-led pressure on its economy.
I'm not going to lie, I don't fully understand all the ramifications of this move but (in keeping with the theme of this site) I thought it was something you should know.

It is something I've been hearing about for a long time now and they finally did it. Will other countries follow suit (Venezuela)? Will it hurt the dollar (more)? Will it effect oil prices?

Probably not.

But it is interesting, nonetheless.

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