Iran clarifies rumours on reserves shift, gold

Mohammad-Jaafar Mojarrad, Iran's central bank vice-governor, told the Financial Times on Tuesday that Tehran had withdrawn foreign reserves from Italian banks but not from other parts of Europe.

In an interview with the FT, Mr Mojarrad said comments suggesting a switch away from Europe from Ebrahim Sheibani, the bank governor, had been "misquoted" on Friday by Iranian news agencies.

Iran had long liked "some mystery" over the size and whereabouts of its foreign exchange holdings as a precaution