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Iran increases foreign currency reserves

29 June 2010

Iran's central bank has sold gold through foreign exchange transactions to increase its foreign currency reserves by $9bn, Reuters has reported. "The country's foreign exchange reserves have been increased by $9 billion through selling gold and foreign exchange conversion," central bank governor, Mahmoud Bahmani was quoted as saying. Iran denied earlier this month it was selling Euros from its reserves to buy dollars and gold.

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