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Hard-line Iranian president Mahmoud Ahmadinejad has urged the Organisation of Petroleum Exporting Countries (Opec) to stop pricing oil in US dollars.

He said that oil should not be exclusively valued against the depreciating dollar, which he derided as "a worthless piece of paper".

The Iranian president's comments came at the end of a two-day Opec summit in Saudi Arabia that had shied away from condemnation of the dollar, which has been historically linked to worldwide oil prices.

Mr Ahmadinejad and his Venezuelan counterpart Hugo Chavez advocate the use of a basket of currencies to value oil.

Oil prices have steadily neared $100 (£48.7) a barrel amid falls in the dollar's value in 2007.

Saudi Arabia, a firm ally of the US, is loath to criticise the dollar, and its influence prevented the sentiments of the Iranian and Venezuelan leaders appearing in the rare summit's closing statement.

But Mr Ahmadinejad told reporters at the conference's close: "All participating leaders showed an interest in changing their hard currency reserves to a credible hard currency.

"Some said producing countries should designate a single hard currency aside from the US dollar to form the basis of our oil trade."

The Iranian president and Mr Chavez, who said this weekend that the "empire of the dollar has to end", are due to hold further talks today.

Twelve-member Opec provides 40 per cent of the world's oil supplies.