Iran Replaces The US Dollar With The Euro...And So It BeginsFocal Equityupdated Sep 22, 2009TweetAt GET.com we maintain complete editorial integrity on our content & provide transparent & unbiased information. Companies don't pay us to include their products although we receive a compensation when you successfully apply to products from our partners. See how we make money here.At GET.com we maintain complete editorial integrity.Iran's President Mahmoud Ahmadinejad has ordered the replacement of the US dollar by the euro in the country's foreign exchange accounts.The September 12 edict was issued following a decision by the trustees of the country's foreign reserves, Mehr News Agency reported.Earlier, the Islamic Republic of Iran had announced that the euro would replace the greenback in the country's oil transactions. Iran has called on other OPEC members to ditch the sinking dollar in favor of the more credible euro.Following the switch, the interest rate for the facilities provided from the Foreign Exchange Reserves will be reduced from12 to 5 percent.Since being introduced by the European Union, the euro has gained popularity internationally and there are now more euros in circulation than the dollar.The move will also help decouple Iran from the US banking system.http://presstv.com/detail.aspx?id=106669§ionid=351020102Who is next? And what will be the USA's retaliation?Watch this fad catch on now. The dam has burst.Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.