The Latest from Iran (25 January): A Government Committing Economic Treason?
Wednesday, January 25, 2012 at 6:04
Cartoon: Nikahang Kowsar1755 GMT: Elections Watch. Guardian Council spokesman Abbas Ali Kadkhodaei says about 80% of the 5400 applicants to stand in March's Parliamentary elections have been approved.
1750 GMT: Oil Watch. French oil refiner Total has stopped buying oil from Iran in line with new European Union sanctions, according to Chief Executive Christophe de Margerie.
De Margerie said Total had been buying about 80,000 barrels a day of Iranian oil.
1740 GMT: The Government Moves --- But Will It Make a Difference? The currency website Mesghal is claiming that the Government's steps (see 1730 GMT) have made a difference to exchange rates and gold prices. Old gold coin has plummeted almost 20% in price to 820,000 Toman (about $400) while the Iranian Rial has supposedly recovered 20% of its value to stand at 19000:1 vs. the US dollar.
There are other claims, however, that the effect has not been so marked. Hamshahri reports that the open market was actually trading Rials for dollars at 21700:1, with vendors on the streets and foreign exchange offices displaying official rate but selling the dollar at a higher rate.