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News Summary: Iran tries to stem currency fall

The Associated Press
Wednesday, 3 Oct 2012 | 1:53 PM ET

CURRENCY CRACKDOWN: Police threatened merchants who closed their shops in Tehran's main bazaar and launched crackdowns on sidewalk money changers on Wednesday as part of a push to halt the plunge of Iran's currency.

FALLING VALUE: Public anger has mounted over a punishing combination of a falling currency and rising prices, which have put some staples such as chicken and lamb out of reach for some.

WHY IT MATTERS: The measures underscore the serious concern by officials facing one of the most potentially destabilizing scenarios, which has been partly blamed on the fallout from Western sanctions over Tehran's nuclear program.