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Iran currency crisis: Sanctions detonate unstable rial

Posted on 04 October 2012

As international sanctions against Iran have tightened, the value of the Iranian currency has plummeted. Ferdowsi Street in central Tehran is named after Ferdowsi, a poet who millennia ago compiled the Epic of Persian Kings and their eternal, mythical battle with evil.
The road is home to a long row of small shops where three types of money traders operate: “illegal” street money-changers, licensed exchange bureaux and, last but by no means least, big traders who move and shake the market with a phone call from their drab offices in the back alleys………………………………………..Full Article: Source


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VRS - who has written 37629 posts on Opalesque Commodities Briefing.


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