Iran sets single foreign exchange rate to rescue currency
These are external links and will open in a new window/ Iran relies on money from its oil exports to cover virtually all its expenses Iran's currency, the rial, lost some 20% against the US dollar in two weeks as Iranians rushed to hedge against depreciation of their assets. Some fear an imminent collapse of the nuclear deal and return of economic sanctions. "We are sitting idle watching numbers go up. You cannot do business when you start the day with one rate and end with another," Ismail Kazemi, an Iranian coffee importer, said in a ...
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