Iran Currency Freefall Forces President to Allow Rise in Interest Rates
Facing a wave of panic selling by Iranians worried that international sanctions and inflation are destroying the value of the rial, ’s president reversed himself on Wednesday and allowed bank interest rates to rise sharply in an effort to stop a slide that has depressed the currency to a relentless string of record lows./ , was an unusual about-face for the Iranian hierarchy, which has maintained a public stance of stoicism on the building sanctions, imposed in response to Iran’s suspect . On top of four rounds of penalties by the United ...
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