October 2, 2012

Iran's Currency Crash

Michael Rubin, Contentions

AP Photo

he Iranian rial has crashed. Over the past 36 hours, it has lost almost 30 percent of its value. The value of the dollar against the rial is now up around 300 percent from what it was just a couple years ago. After long denying that the sanctions have had any effect on Iran, President Mahmoud Ahmadinejad now blames outside “enemies” for the country’s economic trials.

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TAGGED: Sanctions, Iran

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