Arab Today, arab today iran shores up currency after sharp drop
Last Updated : GMT 02:19:36
Arab Today, arab today
Arab Today, arab today

Iran shores up currency after sharp drop

Arab Today, arab today

Arab Today, arab today Iran shores up currency after sharp drop

Tehran - AFP

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. Iranian Commerce Minister Mehdi Ghazanfari was quoted by IRNA as saying the central bank had been asked \"to inject more foreign currency into the market, and the central bank has promised to do so.\" He added that the government was considering \"a number of measures to control the exchange market.\" He did not say what they were. The head of the central bank, Mahmoud Bahmani, said the sudden fall of the rial was \"due to psychological effects.\" While the slide started immediately after US President Barack Obama signed into law new sanctions targeting Iran\'s central bank, Iranian officials said that was not the cause. \"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.\" He imputed the movements to domestic shifts in capital, for instance into the real estate sector. US and other Western nations have imposed sanctions on Iran\'s economy over Tehran\'s controversial nuclear programme. Iranian economic experts have been called to a meeting at the central bank on Wednesday to address the issue of the rial\'s volatility, Mehmanparast said. According to OPEC, Iran gets 80 percent of its foreign revenues -- around $100 billion over the past year -- from oil exports. The country\'s budget has been calculated on the basis of 10,500 rials to the dollar

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iran shores up currency after sharp drop Arab Today, arab today iran shores up currency after sharp drop

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iran shores up currency after sharp drop Arab Today, arab today iran shores up currency after sharp drop

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Airbus CEO says won't cling to job

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 'Final phase' of battle for Raqa

GMT 03:47 2017 Monday ,16 October

'Final phase' of battle for Raqa
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Norway seeks 'Tesla tax' on electric cars

GMT 08:17 2017 Friday ,13 October

Norway seeks 'Tesla tax' on electric cars
Arab Today, arab today Safaa Sultan happy for “Love School”

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”
Arab Today, arab today Conservation cutbacks put Brazil's

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:19 2017 Wednesday ,11 October

Bosy reveals behind her participation in festival

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:20 2017 Thursday ,12 October

Chad extends key conservation area

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:16 2017 Friday ,13 October

Lufthansa to swallow lion's share

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday