Iran cbank says has sold gold to boost reserves

Iran increased its foreign currency reserves by $9 billion by selling sold gold and through foreign exchange transactions, its central bank chief said on Monday, state broadcaster IRIB reported.Mahmoud Bahmani did not disclose the total amount of Iran's reserves, nor did he specify how much gold was sold or over what time period.

"The country's foreign exchange reserves have been increased by $9 billion through selling gold and foreign exchange conversion," IRIB reported him as saying at a breakfast meeting at Tehran's chamber of commerce.Earlier this month Bahmani denied a newspaper report that the central bank was selling 45 billion euros from reserves to buy dollars and gold.That would have marked a reversal of Iran's policy of moving away from the dollar, both in its reserves and in the currency it receives for its oil exports. Bahmani called the report "sheer lies".