Money, Gold Smuggling Ring Dismantled

Coordinated security operations across the northwestern province of West Azarbaijan, Tehran and some other provinces resulted in the arrest of 15 members of the ring and seizure of $500,000 worth of foreign currencies. Another half a million in fake dollars and 122 million in fake dinars, as well as equipment for making counterfeit gold coins, were also confiscated from the criminal network, IBENA reported. The government is struggling to stabilize the currency market and clamp down on an unofficial market that has seen the rial plunge to record lows in recent weeks, Financial Tribune reported.