Iran replace dollar with euro | Forex Factory

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Iran replace dollar with euro

  • #1
  • First Post: Dec 4, 2006 7:25am Dec 4, 2006 7:25am
Iranian minister of economic affairs said <st1:country-region><st1lace>Iran</st1lace></st1:country-region> replace doller with euro in it’s international business. The reason is hostile <st1:country-region><st1lace>US</st1lace></st1:country-region> policy against <st1:country-region><st1lace>Iran</st1lace></st1:country-region> which has created some troubles for <st1:country-region><st1lace>Iran</st1lace></st1:country-region>’s international businesses. He added that <st1:country-region><st1lace>Iran</st1lace></st1:country-region> was already trying to reduce his dollar-based business. Since <st1:country-region><st1lace>Iran</st1lace></st1:country-region>’s most business partners are European countries, replacing dollar with euro was an easy and evident choice.<o></o>

<o> </o>

Sorry I hope my translation is good enough to understand the news, since I couldn’t find the English version of it; you can find the Persian version of the story here:<o></o>

http://www.bbc.co.uk/persian/busines..._mf_euro.shtml
  • #2
  • Dec 4, 2006 7:54am Dec 4, 2006 7:54am
Quoting mazdak
Iranian minister of economic affairs said <?xml:namespace prefix = st1 /><st1:country-region><st1lace>Iran</st1lace></st1:country-region> replace doller with euro in it’s international business. The reason is hostile <st1:country-region><st1lace>US</st1lace></st1:country-region> policy against <st1:country-region><st1lace>Iran</st1lace></st1:country-region> which has created some troubles for <st1:country-region><st1lace>Iran</st1lace></st1:country-region>’s international businesses. He added that <st1:country-region><st1lace>Iran</st1lace></st1:country-region> was already trying to reduce his dollar-based business. Since <st1:country-region><st1lace>Iran</st1lace></st1:country-region>’s most business partners are European countries, replacing dollar with euro was an easy and evident choice.<?xml:namespace prefix = o /><o></o>

<o></o>

Sorry I hope my translation is good enough to understand the news, since I couldn’t find the English version of it; you can find the Persian version of the story here:<o></o>

http://www.bbc.co.uk/persian/busines..._mf_euro.shtml
Your translation is very good. Thanks for the news.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #3
  • Dec 4, 2006 8:19am Dec 4, 2006 8:19am
Yup Fine english and thanks, hadn't heard that piece of news! Thanks.
  • #4
  • Dec 4, 2006 8:40am Dec 4, 2006 8:40am
Quoting mazdak
Iranian minister of economic affairs said <?xml:namespace prefix = st1 /><st1:country-region><st1lace>Iran</st1lace></st1:country-region> replace doller with euro in it’s international business. The reason is hostile <st1:country-region><st1lace>US</st1lace></st1:country-region> policy against <st1:country-region><st1lace>Iran</st1lace></st1:country-region> which has created some troubles for <st1:country-region><st1lace>Iran</st1lace></st1:country-region>’s international businesses. He added that <st1:country-region><st1lace>Iran</st1lace></st1:country-region> was already trying to reduce his dollar-based business. Since <st1:country-region><st1lace>Iran</st1lace></st1:country-region>’s most business partners are European countries, replacing dollar with euro was an easy and evident choice.<?xml:namespace prefix = o /><o></o>

<o></o>

Sorry I hope my translation is good enough to understand the news, since I couldn’t find the English version of it; you can find the Persian version of the story here:<o></o>

http://www.bbc.co.uk/persian/busines..._mf_euro.shtml
You're translation is very good.
  • #5
  • Dec 4, 2006 8:52am Dec 4, 2006 8:52am
Iran trade is still quite small relative to other countries. It wont have any effect on Dollar.
  • #6
  • Dec 4, 2006 9:15am Dec 4, 2006 9:15am
Quoting fxfei
Iran trade is still quite small relative to other countries. It wont have any effect on Dollar.
Sure.... and a little snow ball rolling down a snow-covered mountain has no effect on the sleepy little town below until the little snowball becomes an indomitable avalanche. Swiss Proverb.
  • #7
  • Dec 4, 2006 9:21am Dec 4, 2006 9:21am
Quoting MoneyMa$ter
Sure.... and a little snow ball rolling down a snow-covered mountain has no effect on the sleepy little town below until the little snowball becomes an indomitable avalanche. Swiss Proverb.
  • #8
  • Dec 4, 2006 9:47am Dec 4, 2006 9:47am
Quoting mazdak
Iranian minister of economic affairs said <st1:country-region><st1lace>Iran</st1lace></st1:country-region> replace doller with euro in it’s international business. The reason is hostile <st1:country-region><st1lace>US</st1lace></st1:country-region> policy against <st1:country-region><st1lace>Iran</st1lace></st1:country-region> which has created some troubles for <st1:country-region><st1lace>Iran</st1lace></st1:country-region>’s international businesses. He added that <st1:country-region><st1lace>Iran</st1lace></st1:country-region> was already trying to reduce his dollar-based business. Since <st1:country-region><st1lace>Iran</st1lace></st1:country-region>’s most business partners are European countries, replacing dollar with euro was an easy and evident choice.<o></o>

<o> </o>

Sorry I hope my translation is good enough to understand the news, since I couldn’t find the English version of it; you can find the Persian version of the story here:<o></o>

http://www.bbc.co.uk/persian/busines..._mf_euro.shtml

That's only the first step. Now watch them start selling oil in Euros.
it won't be $$ 'pretty'.
  • #9
  • Dec 4, 2006 10:16am Dec 4, 2006 10:16am
Quoting MoneyMa$ter
Sure.... and a little snow ball rolling down a snow-covered mountain has no effect on the sleepy little town below until the little snowball becomes an indomitable avalanche. Swiss Proverb.
We certainly have a wise pal here.

My only hope is that the current events do not lead us to another economic recession.
  • #10
  • Dec 4, 2006 2:53pm Dec 4, 2006 2:53pm
Hey thanks for the translation but I wouldn't have a clue if it is accurate or not.

+ + +

BTW whatever happened to the oil exchange Iran was developing? Not!!

I know that Dubai now trades a Oman crude contract in US$ clearing though the NY Mercantile exchange.
  • #11
  • Dec 4, 2006 3:16pm Dec 4, 2006 3:16pm
Wow, more bad news for the US huh? hehe, man, the dollar is sooo under valued its not even funny. I might move to Great britian and work in McDees and send some money home to the US.

I met a few people from GB that brought some shoes over to the US and sold them to the US peoples. Those people from GB made a killing!!!

Food for thought.

Oww btw, no food for oil. Only Dee Dee Dee people would trade oil for food at 1:1 ratio.
  • #12
  • Dec 4, 2006 4:46pm Dec 4, 2006 4:46pm
Quoting SunTrader
BTW whatever happened to the oil exchange Iran was developing? Not!!

I know that Dubai now trades a Oman crude contract in US$ clearing though the NY Mercantile exchange.
From my reading it won't be launched before the end of next year. However if you are interested in more detailed info about Iranian Oil bourse, read the following article:

http://en.wikipedia.org/wiki/Iranian_Oil_Bourse
  • #13
  • Dec 4, 2006 4:58pm Dec 4, 2006 4:58pm
Quoting mazdak
From my reading it won't be launched before the end of next year. However if you are interested in more detailed info about Iranian Oil bourse, read the following article:

http://en.wikipedia.org/wiki/Iranian_Oil_Bourse

I am not as concerned about the return on my money as I am about the return of my money
Your signature is hilarious. It is, unfortunately, all too fitting in Forex.
Profit is where readiness meets Opportunity
  • #14
  • Dec 4, 2006 5:15pm Dec 4, 2006 5:15pm
Quoting FXopportunist
Your signature is hilarious. It is, unfortunately, all too fitting in Forex.
Thanks FXopportunist. It's from Will Rogers (humorist). Til a year ago I was pretty active in Hyip world which is, IMO, riskier than Forex...that's why the signature...
  • #15
  • Dec 4, 2006 5:48pm Dec 4, 2006 5:48pm
Iran is probably doing this because they were pissed off by Bush and his administration.
Trading is a long and a short story.
  • #16
  • Last Post: Dec 4, 2006 6:02pm Dec 4, 2006 6:02pm
Quoting spinmypip
Iran is probably doing this because they were pissed off by Bush and his administration.
And if Venezuela and Nigeria follow suit.....with additional pressure placed on the Saudis to reduce production.....methinks the snowball groweth!!

But I guess the good ole US of A can rely on the good ole former USS oF R.... NOT!
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