Iran eases currency rules, hoping to buoy rial ahead of sanctions

By Parisa Hafezi ANKARA (Reuters) - Iran will ease foreign exchange rules, state TV reported on Sunday, in a bid to halt a collapse of the rial currency that has lost half its value since April due to fears about U.S. sanctions likely to be imposed this week. President Donald Trump's decision to pull out of an agreement to lift sanctions in return for Iran limiting its nuclear programme caused a run on the rial as companies and savers bought hard currency to protect themselves from the economic sanctions that could be imposed from Monday. The central bank has blamed "enemies" for the fall of the currency, and the judiciary said 29 people had been arrested on charges that carry the death penalty.

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