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Tehran housing boom is last resort for Iran’s savers squeezed by sanctions

Posted on 09 March 2012

Iranians are turning to real estate to protect savings, helping fuel a building boom in the capital, as international sanctions weaken the rial and the government curbs foreign- currency and gold purchases.
Iran’s economy is being squeezed by tougher sanctions imposed this year by the U.S. and European Union, which say they are needed to restrain the Islamic republic’s nuclear program. Iranians stepped up purchases of gold, dollars and euros as hedges against the threat to stability………………………………………..Full Article: Source


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