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January 3, 2012       Share:    

Source: http://www.washingtonpost.com/world/irans-rial-slides-under-latest-us-sanctions/2012/01/02/gIQAHX8MWP_story.html

Iran's Currency Hits Record Low after Latest U.S. Sanctions

(Washington Post) Thomas Erdbrink - Iran's currency declined by 12% on Monday against foreign currencies after President Obama on Saturday signed a bill that places the Islamic republic's central bank under unilateral sanctions. The rial has lost 35% of its value since September. The slide of the rial is a huge blow to Iran's leaders, who have been claiming that the sanctions aren't hurting the country. Housing prices have risen 20 percent in the past few weeks, the semiofficial Mehr News Agency reported. Private companies and importers say they are in deep trouble.

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