Ahmadinejad approves higher interest rates to support Iranian currency
TEHRAN, Iran — President Mahmoud Ahmadinejad has approved an increase in bank interest rates in a bid to absorb liquidity in the market and supporting the Iranian currency. Economy Minister Shamseddin Hosseini was quoted Wednesday by the official IRNA news agency as saying that Ahmadinejad approved a decision by Iran’s Money and Credit Council to raise interest rates on deposits to 21 percent./ Ahmadinejad’s initial refusal to sign off on the decision was seen by critics as stoking the depreciation of the rial, which has lost about 50 ...
Click
To Read Full Article
