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Iran denies restriction of euro transactions
Date: 2010/6/8 Click: 1164
The head of the Central Bank of Iran (CBI) denied that his country is planning to restrict its euro transactions, local satellite Press TV reported on Sunday.
  
According to earlier reports, CBI has had a plan for converting 45 billion of its euro reserves into dollar and gold ingots.
  
CBI Governor Mahmoud Bahmani dismissed the report as "incorrect, " according to Press TV.
  
The reports on CBI's monetary policy of restricting euro transactions came against a backdrop of a new phase of economic recession in the European states of Greece and Spain, which has caused a drop in the value of euro against the dollar in international markets, according to Press TV.
  
In 2005, Iran's President Mahmoud Ahmadinejad proposed a switch in the country's transactions from U.S. dollar to euro as a counter-measure to the U.S. and Western moves against Iran's controversial nuclear program.
  
Since October 2007, Iran has received 85 percent of its oil revenues in currencies other than the U.S. dollar, according to the report.
  
Related:
  
Iran plans for restricting euro transactions: report
  
TEHRAN, June 2 (Xinhua) -- The Central Bank of Iran (CBI) has planned to restrict its euro transactions, local satellite Press TV reported on Wednesday.
  
CBI has a major plan for converting 45 billion of its euro reserves into dollar and gold ingots, the report said. Full story
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