IRAN

 
Iran Foreign Exchange Saga Set To Continue
 
The Iranian monetary authorities last week opened a new foreign exchange trading center in an attempt to stabilize the value of the sliding rial on the domestic free market. Under the supervision of the Central Bank of Iran (CBI), the government will provide foreign exchange at the trading center to importers at “2% below the free market rate.” Until the setting up of the center, Iran had a fixed official or...