Iran arrests 30 suspects of manipulating forex market

By Trend

Thirty persons, who are suspected for manipulating the foreign exchange market in Iran last week, have been arrested and will soon be sent to court, Tehran Prosecutor General Abbas Jafari Dolatabadi announced on Sunday.

Large amounts of foreign exchange and golden coins have been seized from the arrested persons, he told the Mehr News Agency.

Such offenses will be dealt with seriously, he emphasized.

On Wednesday, a number of people held a demonstration near the Grand Bazaar of Tehran, using the sharp fall in the value of the Iranian rial as a pretext.

According to reports, businessmen are unhappy about the performance of the administration in regulating the foreign exchange market, saying it has caused instability in prices.

The USD rate in Iran increased from 13,000 rials in the beginning of 2012 to 25,000 in mid September, but suddenly rose to 36,000 during a week on Iran’s open market in late September. Tehran’s major market, Bazaar, has been closed since Wednesday and re-opened on Saturday.


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