Iran Rial Devaluation

EghtesadOnline: The market capitalization of companies listed on Tehran's two stock exchanges has dropped by about 33% in US dollar terms in the past 14 months due to the rial's sharp devaluation against the US dollar.

EghtesadOnline: The government spokesman has announced that the administration is against any irrational devaluation of rial against the US dollar since its policy is to manage the rates of foreign currencies in a floating system.