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Iran Selling 45 Billion Euros of Reserves for Dollars
Bloomberg Newsweek / Ali Sheikholeslami02-Jun-2010 (one comment)
Iran’s central bank began the first phase of the 45 billion-euro ($55 billion) sale of some of its reserves for dollars, the state-run Jaam-e-Jam newspaper reported, citing people it didn’t identify.
The bank is selling 15 billion euros in the first of three stages, which will be completed by Sept. 22, the newspaper reported on its website on May 31.
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"Iran is a bad trader, buying at the top and selling at the bottom"
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