TEHRAN- Iranian cabinet, on a Wednesday meeting headed by President Hassan Ruohani, approved the Central Bank of Iran(CBI)’s suggested plans and measures to be taken for controlling domestic foreign exchange market, IRNA reported.
Reuters: As Iran rial hits record low, police crack down on money changers
LONDON (Reuters) - Iranian police cracked down on unlicensed money changers in Tehran on Wednesday, arresting around 100 traders, Tehran’s police chief told local media, in a sign that authorities are concerned about speculators pushing the rial to record lows.
After a month of surveillance, around 90 money changers were arrested in 10 minutes in the streets of Tehran, police chief General Hossein Rahimi told Fars News Agency on Wednesday.
News of the crackdown helped to bolster the value of the rial, at least temporarily, and it rebounded to around 48,220 to the dollar on Wednesday. It had reached a record low around 50,000 in the free market this week, compared with 47,800 last week and 35,570 in mid-September.
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WNU Editor: This news story has not been properly covered by the international press. And as for the slow collapse in the value of the rial .... it did not collapse because of a few money changers .... it collapsed because of poor management of the economy and spending money on foreign wars. Sighhh .... and the Iranian government wants to know why so many Iranians are openly demonstrating against the government.
More News On The Collapse Of Iran's Currency
Iran holds 100 traders and freezes accounts in dollar crackdown -- Financial Times
Iran arrests currency traders as rial collapses -- AFP
Iran’s police step in to contain foreign currency debacle -- Al-Monitor
Cabinet approves plan for controlling forex market -- Tehran Times
Police arrest 90 amid rising foreign currencies in Iran -- Trend News Agency
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