The Iranian rial partially recovered on Tuesday following a two-day precipitous drop in value. The rial fell to a record low of 17,800 to the US dollar on Monday as a result of President Barack Obama signing new sanctions into law. The exchange rate for December 2010 was around 10,500 rials to the dollar. Iran denies that the sudden depreciation was due to US sanctions. By the end of the day Monday, the rial had recovered to 16,200 to the dollar.
� 2012 Al Bawaba (www.albawaba.com)
Source: http://www.albawaba.com/business/iranian-rial-makes-some-recovery-407744
United Nations Madagascar Redrow Andrew Cole Foreign policy Tony Cottee
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