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All tagged foreign exchange
◢ The trial has started in an Iranian court for 13 petrochemical industry executives charged with embezzling EUR 6.6 billion USD 7.4 billion) in one of the nation’s biggest corruption cases, the state-run Islamic Republic News Agency reported.
◢ President Hassan Rouhani on Tuesday unveiled Iran's first annual budget since the return of US sanctions, saying it had been adjusted to take account of Washington's "cruel" measures. The president announced a 20 percent increase in public sector wages in a sign of the economic challenges the Islamic republic has faced since the United States pulled out of the 2015 nuclear deal earlier this year.
◢ Confused and frustrated Iranians flocked to exchange offices on Tuesday after the government fixed a new rate for the dollar, only to find there were none to buy. Some predict the exchangers will find ways to fiddle the system to get round the new fixed rate, even though Vice-President Eshagh Jahangiri warned this would be considered smuggling.
