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By bne Tehran bureau The Central Bank has responded to increasing criticism regarding its decision last month to permit banks to sell certificates of deposits (CoDs) with a 30% interest rate. Iran’s economy, beset by sanctions and internal mismanagement, has long been precarious. Yet the recent dramatic depreciation of the Iranian rial—plunging over 15% to 582,600 against the dollar on the open market on February 27—underscores a new chapter in the nation’s protracted financial crisis. This latest sharp decline, triggered by the death of three Americans in a drone strike by Iran-backed militan…

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