Iran urges the OPEC member states again to convert their cash reserves into a basket of currencies rather than the tumbling US dollar.
Speaking at a ceremony to open the 29th ministerial meeting of the OPEC Fund for International Development (OFID), Iran's President Mahmoud Ahmadinejad repeated his proposal made about six months ago in a rare summit of the Organization of Petroleum Exporting Countries's heads of states.
"The fall in the value of US dollar is one of the pressing problems of the world today," warned the Iranian president at the conference in Isfahan on Tuesday.
He further expressed concern over the adverse effect of the dollar depreciation on the international community, especially energy exporting countries through increasing the price of commodities like wheat, rice and oilseeds.
