Thursday, 26 January 2012

Iran devalues in bid to stop rial slide

TEHRAN (Reuters) - Iran announced an 8 percent devaluation of the rial on Thursday and said it would enforce a single exchange rate, aiming to stamp out a black market where dollars have soared due to fears over new sanctions imposed by the West.

Source: http://feeds.reuters.com/~r/reuters/MostRead/~3/edXOOzytvbs/us-iran-econcomy-rial-idUSTRE80P1J020120126

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