President Donald Trump
...New York real estate developer, described by Dems as illiterate, racist, misogynistic, and what ever other unpleasant descriptions they can think of, elected by the rest of us as 45th President of the United States...
's decision to pull out of an agreement to lift sanctions in return for Iran limiting its nuclear program caused a run on the rial as companies and savers bought hard currency to protect themselves from the economic sanctions that could be imposed from Monday.
The plunge in the currency and soaring inflation have sparked sporadic demonstrations against profiteering and corruption, with many protesters chanting anti-government slogans.
The central bank has blamed "enemies" for the fall of the currency, and the judiciary said 29 people had been jugged
Youse'll never take me alive coppers!... [BANG!]... Ow!... I quit!
on charges that carry the death penalty
. On Sunday, the judiciary said it had arrested a further seven people, including a former deputy central bank governor and five foreign exchange dealers.A state body led by President Hassan Rowhani and including the heads of the judiciary and parliament on Sunday partially lifted a ban on the sale of foreign currency at floating rates, allowing exchange bureaux to sell at unofficial market rates for purposes such as overseas travel.
That reverses the decision in April to ban trading currency outside the rate of about 42,000 rials to the dollar
Ahead of the announcement of the new measures, the rial gained slightly on the unofficial market, trading at 98,500 to the dollar, compared with 103,000 on Saturday, according to foreign exchange website Boncast.com.
Central bank governor Abdolnaser Hemmati said the plan reflected Iran's self-confidence in the face of the looming US sanctions.
"This shows our power. The same day you (Americans) impose sanctions we open our economy. We have no problems, so why should our people worry?," Hemmati said in a live televised interview.
To encourage Iranians to return their hard cash to the economy, the plan allows the central bank to set up dollar savings accounts for ordinary people, state television
... and if you can't believe state television who can you believe?
said.