So much for Iran's trying to get away from the dollar


Iran Seeks to Pin Rial to the Dollar as It Hits Record Low

By Nasser Karimi
Associated Press
via ABC News, New York
Tuesday, April 10, 2018

Iran moved on Tuesday to enforce a single exchange rate to the dollar, banning all unregulated trading after the rial hit an all-time low.

The country's senior vice president, Eshaq Jahangiri, was quoted by state TV as saying that the official rate will be 42,000 rials to the dollar as of Tuesday. He said that trading at any other price was forbidden and would be considered "smuggling."

... Dispatch continues below ...


Cobalt Blockchain Announces Supply Agreement
for Cobalt Concentrate from DRC Artisanal Mines Co-op

Company Announcement
Friday, April 6, 2018

TORONTO -- Cobalt Blockchain Inc. (TSXV:COBC) announced today that it has successfully negotiated a supply agreement with one of the largest local mining cooperatives in the Lualaba province of the Democratic Republic of the Congo.

Commencing in June 2018, the company will be supplied with a minimum of 40,000 tonnes of cobalt concentrate per year, with a minimum grade of 1 percent cobalt.

"This is a significant milestone in our strategy to generate near-term cash flow," noted Lance Hooper, Cobalt Blockchain president and chief operating officer. "Supply agreements with established mining cooperatives complement our plans for larger-scale, mechanized production activities on mineral concessions in our property portfolio." ...

... For the remainder of the announcement:

The decision came late Monday after a two-day hike in prices of foreign currencies that saw the rial trading at 62,000 to the dollar -- an 18 percent drop since Saturday.

In downtown Tehran, people lined up to buy hard currency outside an exchange office at the new, fixed rate but many complained there were not enough dollars available. Some exchange offices turned off their currency display boards. ...

... For the remainder of the report:

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