Iran's currency plummets

Iran's currency plummets

POSTED: Friday, October 5, 2012 - 10:00am

UPDATED: Friday, October 5, 2012 - 10:04am

A senior Iranian hardline cleric said friday that his nation would pull through it's current currency woes. Speaking to worshippers at Tehran's friday prayers, Ayatollah Ahmad Khatami said the Iranian nation quote "won't face exhaustion under pressures."

His comments came a day after the authorities deployed riot police across Tehran as tensions flared over the nation's plunging currency. The show of force reflected the authorities' concerns in the wake of sporadic protests on wednesday over the plummeting currency, which has sharply driven up prices. Iran's rial currency has lost nearly 40% of its value against the U.S. dollar in the past week.

 

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