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Iran Rattled By Its Currency Devaluation

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Title : Iran Rattled By Its Currency Devaluation
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Iran Rattled By Its Currency Devaluation



Al Jazeera: Currency devaluation against US dollar rattles Iran

Tehran, Iran - Iran has introduced new monetary measures to halt the devaluation of the country's currency, a move seen as a setback to President Hassan Rouhani's efforts to bring investment and create more jobs following a 2015 nuclear deal.

The rial has been on a downward spiral, falling to an all-time low against the US dollar on Wednesday, when it traded for 50,000 rials, 30 percent
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higher than its value in August 2017.

But the rial posted a slight rebound later in the day, when police arrested black-market currency dealers, shut down a number of exchange offices and blocked hundreds of bank accounts owned by major currency traders, local media reported.

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WNU Editor: The Iranian government  should be rattled. This massive devaluation impacts everyone in Iran, and not in a good way.


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