Vow to End Iran's Black Market Spurs Rush for Dollars in Tehran

Bloomberg

Vow to End Iran's Black Market Spurs Rush for Dollars in Tehran

Iranians flocked to foreign-exchange houses after authorities vowed to halt a currency slump by eliminating black-market rates, only to be turned away by currency traders awaiting instructions from the central bank./ Street dealers usually provide an alternative to Iran’s registered banks for Iranians looking to buy and sell dollars or euros. But they were absent from their usual corners in downtown Tehran on Tuesday after the government warned it would prosecute anyone who violated new rules setting the exchange rate at 42,000 rials to the ...

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Apr 10, 2018

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