The value of Iran's currency — which had been sliding steadily for months — took another plunge this week. Faced with new economic sanctions from the U.S. and Europe, the rial now seems to be in free fall.
But at least part of the dive could be linked to currency manipulation by the government itself in an effort to fund candidates in upcoming elections.
In images posted on the Internet, hundreds of Iranians are seen gathered outside the headquarters of the Bank Melli in Tehran Monday. They wanted to buy dollars, but there were no dollars to be had.
Originally published on Wed January 25, 2012 3:37 pm
In a daring raid reminiscent of the kind used to kill Osama bin Laden, U.S. Navy SEALs swooped into Somalia Wednesday morning and rescued two aid workers, who had been held by pirates for months.
The New York Times reports the soldiers came in by helicopter and engaged in a firefight that killed nine pirates. The SEALs left with Jessica Buchanan, a 32-year-old American, and a 60-year-old Dane, Poul Thisted, who were injury free and on their way home.
Kano, the largest city in Nigeria's Muslim north, is an ancient, sprawling city of more than 9 million. Last Friday, the Muslim day of prayers was shattered by a series of coordinated bomb blasts.
Just down the street from one of the main market areas in the city, the street remains blocked off from a police station hit in the attacks. The radical Islamist sect Boko Haram claimed responsibility.
Sagir Ali, a security guard at a parking lot at the market, says he watched as nearby government offices were attacked.