US Treasury: Rial drop due to Iran policy, sanctions

By REUTERS
October 5, 2012 15:07

 
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LONDON - The fall in the Iranian rial over the past year is the result of Tehran's economic mismanagement and sanctions imposed over its disputed nuclear program, US Treasury official David Cohen said on Friday.

Cohen, undersecretary for terrorism and financial intelligence, added in remarks on a visit to Britain's Chatham House think-tank that Iran had the ability to "relieve the pressure its people are feeling" by resolving concerns over its nuclear work.

Iran has blamed the plunge in the currency on what it says is a foreign conspiracy.

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