Iran Central Bank Head Says Rial Drop Belied by Positive Signs
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Iranian central bank Governor Valiollah Seif said recent weakness in the country’s currency, the rial, is out of step with “positive” economic developments.
The rial weakened to 32,000 rials against the U.S. dollar at 12:00 p.m. in Tehran today, from 31,750 yesterday, taking the decline since April 12 to 3.75 percent, according to figures compiled by Daily Rates for Gold Coins & Foreign Currencies, a Facebook page used by traders and companies in Iran and abroad.