After policy shock, Iran says rial will move no more than 5-6 pct a year
LONDON, April 17 (Reuters) - Iran will let its currency move in a range of only 5 or 6 percent against the U.S. dollar each year, its central bank governor said, a week after the government unified official and free-market exchange rates to support the plunging rial. “The rate of 42,000 rials against one U.S. dollar is not fixed and will fluctuate depending on the market and economic factors,” Valiollah Seif was quoted as saying by Tasnim News on Monday. “But the fluctuations are not going to be massive and will be within a range of 5 to 6 ...
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