Iran Central Bank bolsters rial after sanctions plunge

January 4, 2012 16:19


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

TEHRAN - The Iranian rial strengthened by around 20 percent against the dollar on Wednesday after the central bank intervened to prop up the currency, Iranian media reported, recovering some of the sharp losses seen after imposition of new US sanctions.

The rial dropped to a record low after US President Barack Obama signed a bill imposing fresh restrictions on the country's central bank on Saturday.

The sanctions, if fully implemented, could hamper the major oil producer's ability to sell oil on international markets.

Iranian authorities have played down any link between the weakening exchange rate and the imposition of the US ban, saying necessary measures will be taken to maintain the value of the country's currency.

Related Content

Breaking news
August 19, 2018
Pompeo: 'time for peace' as Afghanistan announces ceasefire with Taliban