Sunday, January 8, 2012

Majlis Session on Economy Cancelled; Rial Slides Against Dollar

The Iranian parliament, Majlis, today canceled its special session on “Rescuing the National Economy” when the government officials including the minister of finance and economy and the governor of the central bank failed to show up. The government did not explain why the ministers boycotted the highly anticipated session.

Meanwhile, the national currency’s rial restarted its slide against dollar. Late last week, after an aggressive intervention by the central bank, the exchange value of rial against dollar improved to 15,800 after hitting all-time low of 18,000. But on Saturday and Sunday, the currency lost 5% of its value, closing at 16,600 rials per dollar on Sunday.

7 comments:

Mark Pyruz said...

Nader, take a look at this perspective on the currency exchange situation.

Anonymous said...

where is the economy heading in the few months??

Anonymous said...

LOOOOOOOOL !!!!!

Jabbar Fazeli, MD said...

Passive aggressive politicians giving each other the silent treatment and failing to show for meetings, only in Iran!

Anonymous said...

Anon 2:47 PM

In the toilet where else.

Anonymous said...

As the head of the mullah clan once said..."Economy is for donkeys"
Now looks like the donkeys stayed in their barns.

Anonymous said...

@Mark
your link doesn't seem to work..