Middle East Economic Survey


No 40



Are Sanctions Beginning To Hurt Iranian Currency?

The Iranian rials sudden depreciation last week by more than 10% could be the first tangible signal that the wave of UN, US and EU sanctions against Iran is beginning to bite, despite continuous claims by government officials that these will have no effect on the economy. According to Mehr news agency, the dollar was selling at exchange offices on Wednesday, 29 September, at...