DUBAI: Iran’s security forces have arrested 17 people on charges of profiteering from fraudulent currency dealings, the state news agency IRNA reported on Tuesday, as Tehran tries to reverse a slide in the rial following the reimposition of U.S. sanctions.
Iran intervened in the currency market and threatened speculators as it engineered a dramatic recovery of the rial in recent weeks to ease pressure on its economy.
The suspects had obtained hard currency at subsidised rates from the government to import goods but had instead sold the money on the banned unofficial market, IRNA quoted the Intelligence Ministry as saying.
Agents also exposed 87 fake companies before they could send 300 million euros ($341 million) they had received from the government abroad, the agency added.