Iranian President Mahmoud Ahmadinejad has issued an order to shift the oil-rich Persian Gulf nation's foreign currency reserves from dollars to euro, the semiofficial Mehr news agency reported Sunday.
The order was issued Sept.12 following a decision by the board of trustees of the country's foreign reserves, Mehr said.
Iran has been steadily shifting its foreign exchange reserves away from dollars into other currencies such as the euro as the U.S., leading efforts to isolate Tehran, has ratcheted up sanctions because of a dispute over the country's nuclear program.
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