Video: NHK - Rial's plunge hurting trade with Iran part of Iranian currency collapses, protesters clash with police

Video Related To: Iranian currency collapses, protesters clash with police

Tehrān : Iran | over 1 year ago
Iranian currency Rial has plunged to the lowest and the public is out to protest against President Mahmoud Ahmadinejad. The riot police clashed with protesters in Tehran today over...
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NHK - Rial's plunge hurting trade with Iran

NHK World News ---- Nippon Hōsō Kyōkai Description -- The rapid fall in the value of Iran's currency is hurting exports to the country. The rial tumbled below 35000 to the dollar on Monday for the first time since the 1979 Islamic Revolution. The Iranian currency continued to fall on Tuesday. Dubai in the United Arab Emirates is the world hub for trade with Iran. Some 400000 Iranians living there ship daily commodities to their home country across the Persian Gulf in wooden ships. Many Iranians are visiting the Dubai branches of Iranian banks to exchange their rials for dollars. A trader says he has been buying goods in Dubai and exporting them to Iran. He says he will have to stop exporting to Iran because the Iranian currency cannot buy as much as it used to. Some money changers in the city have stopped accepting the rial. The Iranian Chamber of Commerce and Industry has about 250 member companies in Dubai. A spokesperson says these firms are getting one-third of what they used to be paid by the Iranian side. He says a further fall in the rial seems inevitable. Oct. 2, 2012 - Updated 16:59 UTC (01:59 JST)
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