Iran’s police step in to contain foreign currency debacle
Iranian police enter the fray to contain an emerging foreign exchange crisis.
After two months of fluctuations in the foreign exchange market, with the US dollar rate breaking all records in Iran, the police have stepped in to prevent the further devaluation of the rial on the open market.
Over the past six months or so, the dollar has jumped from 39,000 rials to around 49,000 rials.
According to Tasnim News Agency, the police force and the Central Bank of Iran (CBI) initiated a joint operation Feb. 14 to control the foreign exchange market.
Gen. Hossein Rahimi, Tehran’s chief of police, said Feb. 14, “Following the operation, which began this morning, 10 money changers were closed down and 16 money changers were given a warning. So far, 90 middlemen have been arrested.”
