rumor of the day

Discussion in 'Wall St. News' started by SethArb, Dec 18, 2006.

  1. "The euro received support from an announcement by Iran, the world's fourth-largest oil exporter. The country will calculate fuel and other overseas revenues in euros rather than dollars, to reduce its dependence on the U.S. currency, the Oil Ministry said.

    The dollar has slipped 9.5 percent against the euro this year and may weaken further as oil producers including the United Arab Emirates, Venezuela and Indonesia plan to put more of their funds into the European currency.

    ``The euro has become, in the five years of its existence, one of the principal currencies of the world,'' said Amelia Torres, spokeswoman for European Union Monetary Affairs Commissioner Joaquin Almunia. She said Iran's announcements she had seen were ``not very clear.'' "

    big deal anyway...