Iran will ease foreign exchange rules, state media reported on today 5 August 2018, in a bid to halt a collapse of the rial currency that has lost half its value since April due to fears about United States sanctions likely to be imposed this week
President Donald Trump’s decision to pull out of an agreement to lift sanctions in return for Iran limiting its nuclear programme caused a run on the rial as companies and savers bought hard currency to save themselves from the economic sanctions that could be imposed from next Monday 6 august
The plunge in the currency and bullish 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 arrested on charges that carry the death penalty. On Sunday 5 August the judiciary said it had arrested a further seven people, including a former deputy central bank governor and five foreign exchange dealers
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