Iran rations euros as fights break out at foreign-exchange offices amid rial's plunge to record lows
The Central Bank of Iran on Tuesday sharply curtailed the ability to buy euros amid continued weakness in the rial.cited by BloombergThis comes as foreign-exchange sellers in Tehran were overrun by people looking to trade in their rials before the Iranian year's end.
Monday's push to sell rials followed the currency's rapid decline in value, dropping to a record low of . The day's massive sell-off even led to fighting outside foreign-exchange offices, as customers tried to break through security, according to Bloomberg. and reimposed oil sanctions on the country.
Meanwhile, Iran's crackdown on months of political protests have made the currency's situation worse, as the West tried to punish Iran for its human rights violations with moreBloomberg reported that the CBI will also work on stabilizing the rial's value by holding onto foreign currencies brought in by export revenues through industries with access to subsidized fuel.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Protecting public health in Iran in the face of oppressionProtecting public health in Iran in the face of oppression. Correspondence from PardisSabeti and colleagues harvard HarvardChanSPH broadinstitute
Read more »
Iran to shun India's Raisina Dialogue over mention of protestsIranian Foreign Minister Hossein Amirabdollahian will not attend the Raisina Dialogue in India, Iran's foreign ministry spokesperson said on Monday, criticising a video posted by the conference organisers showing protests in the Islamic Republic.
Read more »
Iran raises March light crude price for Asia - sourceIran has set the official selling price (OSP) of its Iranian Light crude oil grade for Asian buyers at $2 a barrel above the Oman/Dubai average for March, 20 cents higher from the previous month, an industry source with knowledge of the matter said on Wednesday.
Read more »
Iran Foundation Rewards Salman Rushdie’s Alleged Attacker With Free LandA foundation in Iran has offered to give free farmland to the man accused of carrying out a horrific stabbing attack on novelist Salman Rushdie, according to Iranian state media.
Read more »
How Iran used a network of secret torture centers to crush an uprisingSurvivors of a shadowy network of Iranian detention centers detail repression and torture even more horrific than protesters face in legal sites
Read more »
US Navy Mideast chief says Iran has 'attention of everyone'ABU DHABI, United Arab Emirates (AP) — Iranian attacks in the waterways of the Middle East and elsewhere in the region “have the attention of everyone” as tensions rise over Tehran's advancing nuclear program, the head of the U.S.
Read more »