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Iran's Currency Plummets to All-Time Low... Drops More Than 21% In Two Weeks!!!

 
Dixie Normous
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02/03/2013 01:53 AM

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Iran's Currency Plummets to All-Time Low... Drops More Than 21% In Two Weeks!!!
Iran’s currency plummeted to an all-time low on Saturday, registering a more than 21-percent drop in a span of two weeks against the U.S. dollar, currency tracking websites and money changers told AFP.

The rial was traded at between 39,000 and 40,000 per dollar on the open market on Saturday, down from about 33,000 two weeks ago, according to the money changers.

It had briefly dropped in late January to 37,000 per dollar amid rumors that central bank head Mahmoud Bahmani could be sacked because of his failure to shore up the rial, the report said.

The devaluation comes with Iran facing a growing shortage of foreign cash because of international sanctions against its central bank and vital oil sector over its disputed nuclear program.

[link to www.israelnationalnews.com]
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02/03/2013 01:55 AM
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Re: Iran's Currency Plummets to All-Time Low... Drops More Than 21% In Two Weeks!!!
newsflash
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02/03/2013 01:59 AM
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Re: Iran's Currency Plummets to All-Time Low... Drops More Than 21% In Two Weeks!!!
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