Tuesday, Jan 03, 2012
TEHRAN (AFP)--Iran's currency, the rial, rebounded strongly Tuesday after a dramatic drop the day before, gaining 8%, according to money changers and media.
The sharp upswing clawed back some of the ground the rial lost on Monday, when it plummeted 12% against the U.S. dollar.
Officials gave no explanation for the volatility.
Foreign ministry spokesman Ramin Mehmanparast told reporters Tuesday: "This definitely has nothing to do with sanctions."
(END) Dow Jones Newswires
03-01-12 1154GMT
