Iran Tries To Unify Exchange Rates To Halt Currency Decline
Iranian authorities have vowed to enforce a single exchange rate to the U.S. dollar in a bid to stop a slide that has seen Iran's rial currency fall by more than one-third in seven months. Officials said that from April 10 on, the government will sell the dollar at a rate of 42,000 rials to all individuals and businesses, and asserted that "enemies" of Iran were behind the currency's decline. Speaking late on April 9, after an emergency cabinet meeting, First Vice President Eshaq Jahangiri said the move will effectively unify Iran's ...
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