Wednesday, September 12, 2012

CBI to Inject Dollar into Iran Currency Markets

Iran’s Semi-official Fars News Agency, quoting ‘informed sources,’ reported today that the Central Bank of Iran (CBI) will be injecting significant amount of dollar into the country’s foreign currency market to prop up the weakened rial.
The news helped the rial to regained some value and was now trading at 24,520 to dollar, still near the currency’s all-time low.


Unknown said...

Money down the drain!

Anonymous said...

It's a bit like quicksand,the more you struggle,the quicker and deeper you sink!

Anonymous said...

this goes to show how influencible the currency market has become... just the news they would inject money probably prompted many to buy back the rial..