economic

Government Rial Stabilization Attempt Fails

| Iran Conflict

Iran's Central Bank attempts to stabilize the rial by injecting foreign reserves and setting an official rate of 1.38 million per USD. The black-market rate immediately diverges, trading at 1.42 million by end of day. Currency traders report panic buying of dollars and gold. Government blames 'foreign economic sabotage' for the currency collapse.

Media

Government rial stabilization attempt fails as black-market rate diverges to 1.42 million
Government rial stabilization attempt fails as black-market rate diverges to 1.42 million — Iran International

Sources

  • T1 Central Bank of Iran Official middle_eastern
  • T2 Reuters Major western
  • T2 Financial Times Major western
  • T2 Tasnim News Major middle_eastern
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