Posted on 04/15/2018 9:43:35 AM PDT by ameribbean expat
Iran’s central bank has announced a ban on the sale of foreign currencies at exchange bureaus. Under new government guidelines, exchange bureaus no longer have the right to buy, sell, or transfer foreign currencies, and the central bank will no longer provide cash to the bureaus.
Mohammad Ali Karimi, head of public relations for the central bank, announced on state-run television on April 13 that the guidelines aim to “redefine the job description of exchange bureaus,” adding, “They might be given the role of a mediator for cases when Iranian banks are not interacting with some foreign banks.”
The exchange rate of Iran’s rial to the U.S. dollar is now officially set at 42,000. Karimi said exchange bureaus can sell dollars to banks at the new price. However, there are no dollars available at that rate and no one is willing to sell dollars at the arbitrarily set rate.
(Excerpt) Read more at en.radiofarda.com ...
Why is this important? Will this hurt the world economy? The US economy?
It was 37,000 Rial to the dollar just a couple of days ago.
I guess 42,000 is really creating value for Iranians. 250,000 for a cup of coffee (or covfefe?)
Does that mean Hussein gets the bribe loot back?
Their money is quickly becoming worthless. That’s what happens when you spend your Obama bucks on North Korea nukes and they stiff you because of Trump. All we would have to do is to take out their gasoline refinery and their economy would collapse.
I’m pretty sure that Mohammed himself wrote in the Koran that “Gresham’s law does not apply to Muslims.”
https://en.wikipedia.org/wiki/Gresham%27s_law
Their stupid planned Economy is shit and none of the very talented and smart Persian people there want to do anything. Start a business etc because they have no security
Live by totalitarianism. Die by the death of your economy
Hussein got his cut, that’s all he cares about. It’s sitting in a Singapore bank.
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