Sanctions biting Iran

Arab News:

Iran devalues in bid to stop rial’s slide

TEHRAN:  Iran has announced an 8 percent devaluation of the rial and said it would enforce a single exchange rate, aiming to stamp out a black market where dollars have soared due to fears over new sanctions imposed by the West.
Times are likely to get tougher inside Iran.  The stubbornness is bearing a cost.

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