Middle East Economic Survey

VOL. LII

No 39

28-Sep-2009

IRAN

Iran To Denominate Its OSF Reserves In Euros

Reserves in Irans Oil Stabilization Fund (OSF) will now be denominated in euros instead of the dollar, according to Tehran press reports. The decision was apparently made at the request of President Mahmoud Ahmadinejad, based on a recommendation by the OSF board of directors. The shift was made in an attempt to protect the OSF from the fragility of the US economy and the weak dollar, a radio...