Iranians Hit By 'Perfect Currency Storm'
Every day, hundreds head to Tehran's bustling Ferdowsi street to buy foreign currency, only to find that many exchange offices have shut up shop, have turned off their currency-rate displays, or have signs up reading, "We don't have U.S. dollars to sell." A nationwide dollar-buying panic is in full swing, spurred by the plunging value of the Iranian rial, a sluggish economy, and fears that the United States will reimpose crippling sanctions on the Islamic republic. With the rial hitting all-time lows, the government has imposed an official ...
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