Business Week | September 30, 2010


Iran’s finance minister says the government may intervene to halt a recent hike in hard currency exchange rates to the riyal.

Shammeddin Hosseini told state radio the increase reflects what’s happening on international markets

He says if it “becomes a bubble growth, the government will stop it.” He didn’t clarify what this would entail.

The U.S. dollar sold for 12,000 rials in currency exchange offices across Iran on Wednesday — more than 14 percent above Sunday’s rate.

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