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The unofficial rial to US dollar rate underwent severe fluctuations in January 2012 (the rial losing 50% of its value in a few days, following new international sanctions against the CBI), eventually settling at Rls 17,000 at the end of the period. Besides all the bad effects on the economy in general, this had the effect of boosting the ...
The IEA estimated that Iranian exports fell to a record of 860,000 bpd in September 2012 from 2.2 million bpd at the end of 2011. This fall led to a drop in revenues and clashes on the streets of Tehran when the local currency, the rial, collapsed. September 2012 output was Iran's lowest since 1988. [337]
Business and economy Rio Tinto Alcan locks out hundreds of workers from a smelter in the Canadian town of Alma, Quebec. (CBC) Disasters A 7.0-magnitude earthquake strikes south of Japan ; no damage is caused. (Wall Street Journal) (Reuters) (Newsday) A boat capsizes near Lamu Island off the Kenyan coast with at least seven people dead. (Reuters) International relations The Iranian Navy test ...
The Iranian rial hit a record low against the U.S. dollar on the unofficial market on Monday amid a deterioration in the economic situation and the reimposition of sanctions by the United States.
In January 2012, the country raised the interest rate on bank deposits by up to 6 percentage points in order to curtail the rial's depreciation. The rate increase was a setback for Ahmadinejad, who had been using below-inflation rates to provide cheap loans to the poor, though naturally Iranian bankers were delighted by the increase. [107]
Britain's Standard Chartered plc has agreed to pay $327 million in fines related to charges that the bank hid some $250 billion in transactions for Iranian clients. Such transactions are a ...
Disasters The Met Office issues a storm warning for the entire United Kingdom, with Scotland, Wales and Northern Ireland reportedly the worst-affected areas. Two people are later reported killed in separate weather-related incidents. (Belfast Telegraph) (BBC) International relations Negotiators from Israel and the Palestinian Authority meet in the Jordanian capital, Amman, for the first time ...
Iranian rial is the world's 4th least valued ... Iran's 2012 uranium requirement for power generation was 170 ... Listed from highest rate to lowest; Iran: ...