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Iran’s currency crisis reaches new level

Posted on 01 October 2012

The Iranian currency has fallen to a historic low despite all efforts by the Islamic Republic to control the market. Iranian media report that the dollar was traded at the record level of more than 30,000 rials on Sunday, while the price of the gold coin has reached 12 million rials and appears to be rising by the day.
The head of the Gold & Coin Union of Tehran said the rising price of gold and foreign currencies is due to low supply in the face of rising demand………………………………………..Full Article: Source

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VRS - who has written 37214 posts on Opalesque Commodities Briefing.


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