the preemptive strike by iran's central bank on $ exchange
rate back in early april is now seen as a very smart move.
they must have known that trump will get out of jcpoa and
decided to disarm him from waging a war on rial.
i wonder who is their mole inside wh?trump himself??!?!
In first move since FX crackdown, Iran lowers rial vs dollar
DUBAI (Reuters) - In a sign that it will allow some flexibility in exchange rates under threatened U.S. sanctions, Iran has lowered the official value of the rial versus the dollar for the first time since it tried to stamp out a free currency market last month.
In early April, with the rial sinking to record lows before U.S. President Donald Trump's decision to exit the Iran nuclear deal, Tehran said it was unifying official and free-market rates for the currency at a single value of 42,000 to the dollar.
Authorities threatened anyone trading the rial at other rates with arrest, and sent police to patrol money exchange shops in big cities.
This week, however, the central bank has begun engineering a very slow decline of the rial, suggesting it will let the currency move gradually in response to supply and demand, as long as a fresh free-fall can be avoided.
The central bank set the rate at 42,050 on Monday and 42,060 on Tuesday, its website showed. Central bank chief Valiollah Seif hinted at the possibility of further falls, saying the rial could move as much as 5 or 6 percent during the fiscal year to March 20, 2019, the Financial Tribune newspaper reported.
Seif was quoted as telling a meeting of the banks' chief executives that the central bank would decide foreign exchange rates based on inflation in Iran, which is now running slightly above 8 percent.