NO. 24


Financial and Banking News

Legisla tion/Regulation

Iranian Riyal Strengthens As Curbs On Forex Dealers Relaxed

The Iranian riyal, which has recently fallen to a record low of around$1=IR4,400, has strengthened to trade at $1=IR4,050 following the relaxationlast week of strict exchange controls which have effectively denied authorizedmoney changers the right to deal in the free market (MEES, 6 March). In anattempt to ration the limited supply of foreign exchange,...