Tuesday, September 27, 2022

Iran Says Two US Departments Manipulating Its Currency Market

A report by the Iranian government says the US state and treasury departments, along with the country’s intelligence bodies, have started concerted efforts to manipulate Iran’s currency market.

The report by the Security Department of Iran’s Ministry of Commerce says the US governmental organizations have advanced their plot by giving staged shocks to Iran’s currency market.

“Based on a plot jointly hatched by the US state and treasury departments and intelligence agencies, Washington has launched an operation to manipulate Iran’s currency market by giving Iran’s economy staged shocks to devalue the Iranian rial against foreign currencies,” the report said.

It also said the operation is carried out from certain US bases in the neighbouring states and added most of the elements operating in Iran’s currency market are unaware of the US’ concerted efforts.

The statement said it has already unveiled part of the operation along the border areas. “In certain cases, the US bases received IR rials and absorbed Iranian cash capitals with the main goal of inflicting heavy blows on the country’s economic system.”

“Organizing a massive network of regional elements with extended links to Iran’s monetary market and dispatching various groups carrying huge amounts of IR rials to the border cities to collect US dollars are among the main mechanisms that the US organizations have adopted to make Iran’s currency market volatile,” he said.

The Iranian market has been in a shock caused by a dramatic rise in the rate of foreign currencies over the past months.

The US dollar is currently exchanged at 140,000 rials in the free market amid a dramatic devaluation of the Iranian currency.

The recent packages of measures unveiled by the Iranian government have failed so far to rein in the turbulence in foreign currency market of the country.

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