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Its almost over...Iranian Money Changers Association, a state-licenced body, instructed its members to sell dollars at 28,500 rials,

 
Anonymous Coward
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10/07/2012 02:22 AM
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Its almost over...Iranian Money Changers Association, a state-licenced body, instructed its members to sell dollars at 28,500 rials,
rial doom..even there own licensed money changers quote...

Authorities attempted to revive trade on Saturday by dictating a rate. The Iranian Money Changers Association, a state-licenced body, instructed its members to sell dollars at 28,500 rials, Mehr news agency quoted a trader as saying. That was much stronger than the record low of 37,500 early this week.

But dealers in Tehran and Dubai told Reuters there was almost no trade because the rates indicated by state bodies were not commonly accepted in the market.

Money changers in Tehran "tell us not even to call them to ask the price of currency. They say they are not giving rates," said a merchant in the capital.

[link to www.dailystar.com.lb]
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10/07/2012 03:55 AM
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Re: Its almost over...Iranian Money Changers Association, a state-licenced body, instructed its members to sell dollars at 28,500 rials,
Some analysts believe that despite the sanctions, which have slashed Iran's oil earnings, the government still has enough foreign currency to flood the free market with dollars and engineer a sharp rebound of the rial if it chooses.

At the end of last year, Iran's official foreign reserves totalled $106 billion, according to the International Monetary Fund. Analysts estimate reserves may now have dropped by several tens of billions of dollars, but that would still allow Iran to pay for roughly a year of merchandise imports.

Read more: [link to www.dailystar.com.lb]
(The Daily Star :: Lebanon News :: [link to www.dailystar.com.lb)bump]
Anonymous Coward (OP)
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10/07/2012 03:56 AM
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Re: Its almost over...Iranian Money Changers Association, a state-licenced body, instructed its members to sell dollars at 28,500 rials,
hope for the people of iran not there enslavers..

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