Euro Report: Report Iran Central Bank to sell €45 bln.

[RTFX-Trading]

Euro Report:  Report Iran Central Bank to sell €45 bln.

A news agency in Iran reported that the central bank plans to convert €45 billion of its reserves to USD and Gold.

The Euro dropped on the news Wednesday, as fears of a broad-based move away from the single currency by conservative investors could prove to be a heavy blow.
Last month Iran's central bank governor hinted at a move away from the Euro, reversing several years of Tehran publicly shunning the dollar. Iran does not usually disclose the value of its reserves, though state television reported last December they exceeded $80 billion.

The Euro is down against most of its major rivals today following this news. It is at a new day’s low against the USD down 0.35% for the day, while also down 0.45% versus the Canadian Dollar and 0.26% against the Aussie. Meanwhile against the Yen after this morning’s slight recovery, the Euro traded back to below 112 following this news from a high of 112.73.



Emman Xuereb
Trading Desk
RTFX Ltd
Risk Disclaimer