VOL. XXXVIII
NO. 34
22-MAY-1995
Financial and Banking News
Public Finance
Iran Fixes Dollar/Riyal Rate And Bans Forex Transactions OutsideBanks
In its latest attempt to reverse the sharp depreciation in the value of theIranian riyal, which fell to a record low of around $1=IR7,100 on the freemarket in the second week of May (MEES, 15 May), the Iranian Government hasdecided to fix the value of the US dollar on the open market to $1-IR3,000 witheffect from 21 May and to ban all foreign currency...
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