Summary Box: Iran Dismisses Impact On Currency


Salon Staff
January 3, 2012 9:54PM (UTC)

OFFICIAL LINE: Iran on Tuesday dismissed the idea that the steep depreciation in the country's currency against the U.S. dollar was linked to new U.S. sanctions targeting its Central Bank.

THE DECLINE: President Barack Obama on Saturday signed into law a bill that takes aim at Iran's Central Bank. The riyal hit a record low on Monday and had dropped by around 13 percent against the dollar in just two days to 18,000 riyals to the dollar.

Advertisement:

NEW ACTION: Iranian officials are preparing for a meeting to assess measures to shore up the riyal in an already ailing economy.


Salon Staff

MORE FROM Salon Staff



Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •