Business

Iran engineers rial recovery as it defies US sanctions

LONDON: Iran is intervening in the foreign exchange market and threatening speculators to engineer a dramatic recovery of its rial currency, easing pressure on the oil-exporting economy as Tehran defies renewed US sanctions. The rial jumped to 105,500 against the US dollar on Wednesday from 117,000 at the end of last week - and 152,500 at the end of October,...

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