BREAKING NEWS

Rouhani pledges to reverse slide of Iran's currency

By REUTERS

JANUARY 2, 2017 02:03

DUBAI - President Hassan Rouhani sought to reassure Iranians on Sunday that the government would work to protect market stability after the country's currency fell to a record low last week.

"I am optimistic about the country's economic situation and ... I want to reassure our people that foreign currencies will not keep going up," Rouhani said in a live interview with state television.

Iran's rial hit a record low against the U.S. dollar last Monday in a sign of concern about the country's ability to attract foreign money after U.S. President-elect Donald Trump takes office on Jan. 20.

If the rial's weakness continues, it could become a political issue ahead of Iran's presidential election in May by threatening some of Rouhani's economic achievements. Rouhani, who took office in 2013, is expected to seek re-election but has not announced it officially

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