Iran fully converts its foreign currency reserves into non-dollar denominations

Press TV reports: Iran says a decision to convert its dollar-denominated foreign reserves to non-dollar reserves is critical and needs to be properly publicized.

Iran's government has had great achievements in various fields that must be publicized by the country's officials, Mujtaba Samereh-Hashemi, Iran's Senior Presidential Advisor, told reporters at the end of a cabinet minister's meeting.

One of the most important decisions made by the government was to convert its dollar-denominated foreign reserves to non-dollars, a move that prevented a decrease in the value of Iran's foreign reserves, Samereh-Hashemi added, considering the more than 20 percent depreciation of the dollar against major currencies.

Since last year, Iran's oil transactions have also been conducted in euro and yen, as the dollar has been completely replaced by these two major currencies.