Sanctions Threat Forces Iran to End Brief Effort to Support Rial - Bloomberg:
Iran’s central bank, acting on the eve of U.S. sanctions, scrapped most currency controls introduced this year in a bid to halt a plunge in the rial that has stirred protests against the government of President Hassan Rouhani.
Under the measures, the central bank will allow the market to determine the rate of foreign-exchange transactions except the imports of essential goods and drugs, Governor Abdolnaser Hemmati told state television Sunday night. Licensed currency houses whose trading had been halted will be allowed to resume operations from Tuesday, he said.
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