At the moment the Iranian economy is disintegrating, the local currency plunging by the hour.
Last Monday the rial declined 12% against the USD and is down 60% in the last 3 months, Iranians are queueing outside banks to buy USD and other foreign currencies.
One news agency quoted President Mahmoud Ahmadinejad as saying his administration will do anything to save the local currency from plunging further saying this is possible with the 'huge reserves' of hard currency Iran has.
Iran has 320 tonnes of gold so I guess we'll see it on the auction block fairly soon.
- Forums
- Commodities
- GOLD
- iran vs us confrontation
iran vs us confrontation, page-10
-
- There are more pages in this discussion • 183 more messages in this thread...
This thread is closed.
You may not reply to this discussion at this time.
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add GOLD (COMEX) to my watchlist
The Watchlist
JBY
JAMES BAY MINERALS LIMITED
Andrew Dornan, Executive Director
Andrew Dornan
Executive Director
SPONSORED BY The Market Online