Iran Takes Measures To Combat Rial's Fall To Record Lows
Iran's central bank announced measures to combat the rial's fall to record lows one day after police cracked down on foreign exchange dealers on the streets of Tehran. The central bank's announcement on February 15 that it will allow an increase in the interest rates paid on bank deposits came after the Iranian currency plummeted to a record low of 48,400 to the dollar earlier in the week. "We will use all means at our disposal to get out of this situation and restore calm to the market," central bank chief Valiollah Seif was quoted by ...
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