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.