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About 60 percent of Iran's oil income is currently in non-dollar currencies...demanding payment for Iranian oil in currencies other than the dollar is seen by many experts as a more direct attack on the dollar, especially if the Iranian decision backs a worldwide move away from using the dollar as the underpinning of world foreign exchange reserves.

The dollar has lost 9 percent of its value against the euro in the last year and is down 35 percent against the euro in the last five years.