Monday
Dec242012
The Latest from Iran (24 December): All-Is-Well Oil Alert...But With a Confession
Monday, December 24, 2012 at 17:53See also The Latest from Iran (23 December): Ahmadinejad on Economy "Everyone is Wrong Except Me"
Minister of Oil Rustam Qassemi1750 GMT: Currency Watch. Without providing sources, Radio Zamaneh claims that the Iranian Rial has slipped to 33500:1 vs. the US dollar, its lowest point since Central Bank and Government intervention in October.
The Rial had lost 70% of its value this year before the intervention --- suspension of the open market and a special "trade room" backed by injection of foreign reserves --- bolstered it, according to some reports as strong as 27000:1. However, EA sources in Iran have been reporting that the Rial began sliding again this month, reaching about 31000:1 last week.