Iranian police arrested around 100 money changers on Wednesday as it scrambled to contain the decline of the rial, which has lost a quarter of its value in six months, AFP reported.
The rial's value has been dropping steadily over the a year ago and is now trading at around 48,000 rials to one USA dollar.
Tehran Police Chief Brigadier General Hossein Rahimi has said that at least 10 currency exchange shops have been sealed, Tasnim news agency reported.
According to unofficial statistics, the Iranian currency has lost 36 percent of its value since March 2017, and the Iranian currency against the dollar has fallen about 60 percent since the start of the nuclear sanctions in 2007.
But the drop has accelerated in the past few months, creating a problem for authorities, who have just contained a wave of popular protests against economic hardship and corruption. U.S. President Donald Trump said last month "disastrous flaws" in the agreement had to be fixed or Iran would face a U.S. exit. As the currency has continued to lose value, speculators have sped the process along by betting against the rial's value.
"The detainees, driven by greed, were attempting to disrupt the market and economic order", Rahimi told Fars.
Spare a thought today for your foreign exchange brothers in Iran.
State television broadcast footage of the crackdown."The foreign exchange speculators have been identified", central bank chief Valiollah Seif said, quoted by Iranian media on February 15."We will use all means at our disposal to get out of this situation and restore calm to the market".
But the currency has continued to weaken, analysts say, particularly in the previous year as the Trump administration adopted increasingly aggressive policies toward Tehran's rulers.
The other big driver was the decision by the central bank to lower interest rates in September.
Iranian police in collaboration with the experts of the Central Bank of Iran have arrested 90 currency dealers amid growing currency prices.
That is a good sign of demonstrating that across party lines we should have an opportunity of working together", Ramaphosa said. So we've been a parliament which has been busy over nothing accept the protection of Jacob Zuma .
Butland has four clean sheets in the Premier League for Stoke this season, who have been seriously struggling. They sit 19th in the table and are on course for relegation to the Championship by the end of the campaign.
People wait to collect water from a natural spring outlet in St James, a suburb in Cape Town, in January 2018. The city's goal is to reduce its total daily consumption of water to 450 million litres per day.
Amer Registered Invest Advisor has invested 0.87% in Wells Fargo & Company (NYSE:WFC). 317.78 million are owned by Vanguard Group. It is negative, as 92 investors sold WFC shares while 725 reduced holdings. 103 funds opened positions while 495 raised stakes.
The operation involves troops from the Egyptian air force, navy and ground forces as well as the police and border guards. The success or failure of the military's latest push will most likely not affect the result of the March 26-28 election.
US President Donald Trump and first lady Melania took to Twitter after the shooting and offered condolences. It only happens here, not because of coincidence, not because of bad luck, but as a effect of our inaction.
ValuEngine raised shares of Bank of America from a "hold" rating to a "buy" rating in a research report on Friday, February 2nd. California State Teachers Retirement System grew its position in shares of Bank of America by 4.5% during the fourth quarter.
Jayme Nicholas , spokesman for the ABC affiliate, apologized for the mistake Monday, the Chicago Tribune reported. Chang's both start with P and end with the same "chang" sound, but you can't equate the two".
However, at one point, in the middle of the day, the price touched a high of $108.91 before it finally returned some of the gains. The company reported ($0.20) EPS for the quarter, beating the Thomson Reuters' consensus estimate of ($0.27) by $0.07.
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