Iran introduces tiered exchange rates for imports

About Iran introduces tiered exchange rates for imports


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News article: Iran introduces tiered exchange rates for imports

News Manager July 21st, 2012


DUBAI (Reuters) - Iran will introduce a three-tiered exchange rate system to purchase different classes of imports, state media reported on Saturday, in an indication that the government's stores of hard currency are coming under pressure from Western sanctions. The Iranian rial has lost nearly half its value in the last year, after the West tightened sanctions against Iran over its disputed nuclear program. ...

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