Iran shores up currency after sharp drop
Yahoo news / afp
03-Jan-2012 (2 comments)

Iran's currency, the rial, rebounded strongly on Tuesday as the central bank stepped in to shore it up a day after it suffered a sudden 12-percent drop, media reported.

The rial climbed nine percent on the open market to close trading at 16,200 to the dollar.

That was most of the ground it lost Monday, when it ended up plummeting to 17,800 to the greenback -- a record low.

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Joe L.

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by Joe L. on Wed Jan 04, 2012 08:30 AM PST

Sanctions end with war. Doubt you or your family serve in the military. Internet warriors don't count. Here is what I really think. What a waste of tax payers money. Why can't our government find more competent people to monitor and post comments on our enemies' sites? I certainly could do better, send some info please.


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yolanda

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by yolanda on Tue Jan 03, 2012 10:52 AM PST

LOL!

"I declare absolutely that the international sanctions have not created any economic problem for the country. The enemies know that and are trying to create psychological tensions. But we won't play their game," Bahmani said.

He urged Iranians to refrain from buying dollars.

Foreign ministry spokesman Ramin Mehmanparast told reporters the currency volatility "definitely has nothing to with sanctions."


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