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Iranian officials ordered banks to raise interest rates on local currency deposits in an attempt to stem demand for dollars

Business Headlines

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published Apr 29, 2018, 5:31:47 AM, by Golnar Motevalli and Ladane Nasseri (Bloomberg) — For half a century, Payam’s family hardware firm near Ferdowsi Square has supplied Tehran’s builders with tools — through revolution, war and more recently sanctions. But it has rarely seen times as bad as these. A

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