Iran seeks to unify exchange rates amid rial plunge
New rate is meant to eliminate gulf between official rate and market
The government of Iran unveiled measures seeking to unify the country’s official and market interest rates at an emergency meeting on April 9, as the rial plunged on the black market.
From April 10, the exchange rate available to all people was fixed at 42,000 rials to the dollar, according to state news. In the announcement, vice-president Eshaq Jahangiri blamed recent economic instability on Iran’s “enemies”.
The new rate is a substantial depreciation relative to the former official rate of
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