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President Mahmoud Ahmadinejad said on Tuesday that Iran’s central bank had provided enough hard currency to finance imports into the country, despite Western economic sanctions designed to cut its oil earnings.

“The central bank has provided all the currency for these imports,” Ahmadinejad told a news conference after the rial plunged to a record low against the U.S. dollar earlier in the day.

He said the country’s enemies were waging a “psychological war” against it, adding: “Enemies have managed to reduce our oil sales but hopefully we will compensate for this.”

Reuters

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