Middle East Economic Survey


No 23



Iran Plans Lower Euro Share In Forex Reserves

The Central Bank of Iran (CBI) has unveiled a plan to convert 45bn of its reserves into dollars and gold bullion as a result of the recent steep decline in the value of the euro on the international market, Iranian Press TV has reported, quoting local newspaper Jam-e-Jam. The paper said that, according to informed sources, the plan was to be implemented in three phases and that the first phase...