AP News

Iran arrests 50 over currency decline


TEHRAN, Iran (AP) — Iran's intelligence chief says up to 50 people have been arrested in connection with the decline in the value of the national currency and the chaos that followed the slide.

Heidar Moslehi says those detained have been accused of cooperating with the country's enemies to create currency "disruptions" and economic instability. He spoke after a Cabinet meeting Wednesday.

Iran's rial has lost nearly 40 percent of its value against the U.S. dollar this month. The rate Wednesday — about 31,500 rials to the dollar — was a bit better than the record low of 35,500 rials to the dollar earlier this month.

The rial's decline has been blamed on a combination of government mismanagement and the bite from Western sanctions imposed over Iran's suspect nuclear program.


Toyota's Hydrogen Man
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus