RE: Chuck Norris says voting for Obama will bring 1000 years of darkness
September 11, 2012 at 4:15 pm
(September 11, 2012 at 4:11 pm)Chuck Wrote:(September 11, 2012 at 1:25 pm)Cthulhu Dreaming Wrote: Well... as the Rial has only lost a few percent against the dollar in the last couple of months on the international exchanges, it might be even more credible to suggest that the gentleman might have been exaggerating a teensy bit.
Actually, since early 2012 Central Bank of Iran had imposed capital and exchange rate control on the Rial. So the official exchange rate of Rial is basically fixed. But the official exchange rate would be a joke because it is not derived from any market clearing. Instead central capital flow control means there would be multiple, widely different exchange rates for different locations and different purposes depending on the local supply and demand.
Ah, I did not know that. Good to know.
