Iran: We Made $5 Billion Shorting The US Dollar

Iran state media loudly trumpeted, today, that the country made $5 billion by diversifying its reserved away from the dollar, and into euros.

AFP: “Iran has considerably reduced the total of US dollars in its currency basket,” Mahmoud Bahmani said at a bankers’ seminar in Tehran.

Since October 2007, Iran has received 85 per cent of its oil revenues in currencies other than the US dollar, the channel reported, adding it is seeking a substitute for the dollar for the remaining 15 per cent.

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