In a surprise change in policy Iran is now in favor of the Dollar:
Iran Selling 45 Billion Euros of Reserves for Dollars
http://www.businessweek.com/news/2010-06-02/iran-selling-45-billion-euros-of-reserves-for-dollars-update1-.html
The Central Bank of Iran (CBI) has planned to restrict its euro transactions, local satellite Press TV reported on Wednesday.
CBI has a major plan for converting 45 billion of its euro reserves into dollar and gold ingots, the report said.
The CBI’s new monetary policy comes against a backdrop of a new phase of economic recession in the European states of Greece and Spain, which has caused a drop in the value of euro against the dollar in international markets, according to Press TV.
In 2005, Iran’s President Mahmoud Ahmadinejad proposed a switch in the country’s transactions from U.S. dollar to euro as a counter-measure to the U.S. and Western moves against Iran’s controversial nuclear program.
Since October 2007, Iran received 85 percent of its oil revenues in currencies other than the U.S. dollar, according to the report.
In September 2009, Ahmadinejad ordered the euro to be used instead of the dollar as Iran’s “basic foreign currency.”
http://english.cri.cn/6966/2010/06/02/2021s574157.htm
They must be A) expecting a turnaround, iow, that the Euro will continue to slide, or B) need to raise some cash ahead of starting their war against us.