Posts tagged 'Cato Institute'

The Rial — “no longer a troubled currency”

You might think “that’s a bit quick,’ but it’s happened. Steve Hanke from John Hopkins university, who runs the Troubled Currencies Project alongside the Cato Institute, has decided that recent stability exhibited by the Iranian currency coupled with the weekend’s news of a possible international rapprochement mean the rial really doesn’t belong in his toxic list.

Here’s the recovery in the black market rate, tracking the progress of the P5+1 talks in Geneva. Sunday’s breakthrough saw the rial move from 30,000 IRR/$ to 29,000… Read more