Iran switches dollar reserves
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Iran is to move its foreign currency reserves from dollars to euros as the US continues to press for sanctions against Tehran.
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The dollar shuffled in narrow ranges  against the yen on Monday as option-related and exporter  selling capped the U.S. currency and traders awaited a key  corporate sentiment survey from the Bank of Japan.
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Iran backed down in the face of fierce international pressure on Friday and dropped a demand for changes to a key agreement designed to reassure the world that Tehran does not want nuclear weapons, Western diplomats said.
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Iran stressed on Monday its decision to  freeze sensitive nuclear work was a voluntary move to dispel  concerns it was secretly building atomic arms and would last  only for a short time.
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Two announcements Sunday appeared intended to enforce Iranâs refusal to back down in the face of stepped-up pressure from the United States.
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The dollar fell to new lows on Friday on rumours that China may shift some of its currency reserves away from the greenback, highlighting the extent of dollar-related jitters in financial markets.
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Cuba ended circulation of the dollar on  Monday to reduce its vulnerability to U.S. sanctions, and  shops, restaurants, gas stations, hotels and other businesses  began accepting only Cuban convertible pesos.
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NEW YORK : The dollar firmed slightly after trading near an all-time low against the euro, getting some help from comments from eurozone officials calling for action on the sagging greenback.
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The dollar fell to new lows against the euro, offsetting the positive effects of lower oil prices and a seemingly revitalized U.S. jobs market.
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Cuba has ended circulation of the US dollar in an attempt to resist a tightening US blockade. Dollar transactions that have been allowed for the last 11 years were replaced by convertible Cuban pesos, which are worthless outside Cuba.
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The dollar fell to a record against the euro and tumbled versus the yen on expectation US officials will refrain from joining any effort to stem the currency&#39;s drop.
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Iran on Monday issued a bank note with a nuclear symbol in a move seen as an assertion of its national will in the face of international sanctions over its insistence on enriching uranium.
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There is anger and frustration in Iran after a surprise government move to ration petrol for motorists.
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To the mounting dismay of foreign officials, the slide in the dollar gathered new momentum yesterday, but the Bush administration restated in no uncertain terms its longtime policy of leaving the US currency&#39;s value to the markets.
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The Iranian president, Mahmoud Ahmadinejad, was under pressure to perform a U-turn on petrol rationing today after the restriction prompted violent protests at filling stations across the country this week.
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Cubans and tourists lined up to change U.S. dollars into local currency Sunday, the last day to do so without paying a 10 percent surcharge that is part of a government measure to eliminate the dollar from circulation on this communist-run island.
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TEHRAN, Iran  - As Iran hurtles toward a confrontation with the United States over its nuclear program, the nation's economy remains a dysfunctional wreck. Neither wholly free nor entirely socialist, the Iranian market is a ramshackle hybrid buttressed by lofty oil prices.