Iran plans move towards euro from dollar

A spokesman for the Iranian government said Monday 18 December that the Central Bank of Iran will convert the state's foreign dollar holdings into euros and use the euro for foreign transactions.

"The government has ordered the central bank to replace the dollar with the euro to limit the problems of the executive organs in commercial transactions," said Gholam Hossein Elham, a government spokesman.

"We will also employ this change for Iranian assets (in dollars) held abroad."

Elham added that I

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