| DUBAI, March 4
DUBAI, March 4 The Iranian currency jumped about
9 percent against the U.S. dollar because of apparent government
intervention and a positive tone at nuclear talks between Iran
and world powers, currency websites and Iranian media reported
The rial traded around 32,500-33,500 to the U.S. dollar in
the free market on Monday, compared to about 36,300 on Sunday,
the reports said.
The currency lost more than half its value and hit record
lows in 2012, battered by U.S. and European economic sanctions
which slashed Iran's oil earnings.
But the rial has regained some strength in the past week,
rising about 2 percent last Wednesday after talks on Iran's
disputed nuclear programme with a group of world powers, known
as the P5+1, in Kazakhstan. Although no breakthrough was
reported in the talks, Iranian officials portrayed them as a
Since Sunday, the Iranian government appears to have
provided larger supplies of dollars to the currency market,
boosting the rial, Mehr news agency reported without giving
"Those active in the currency and coin markets see the
widespread provision of hard currency to the market and the
positive environment of negotiations between Iran and the P5+1
group in Almaty as the main factors in the drop in the price of
coins and currency," the agency said.
Iranians can exchange their rials for hard currencies
through loosely regulated money changers, though the government
cracked down on the traders and arrested dozens after the rial's
plunge last year.
The Fars news agency quoted an unnamed money changer on
Monday as saying the rial's rebound this week had been so strong
that many traders had stopped buying and selling currency until