Iran's former top banker has been sentenced to 10 years in jail on corruption charges involving the mismanagement of millions of dollars
File photo: Then head of the Central Bank of Iran, Valiollah Seif , speaks to Iran's head of Atomic Energy Organisation Ali Akbar Salehi in Tehran, Iran on January 17, 2016
Besides violating the currency system, Valliollah Seif also had a role in smuggling foreign currency, judiciary spokesman Zabihollah Khodaeian told state TV. The rial exchange rate was at 39,000 to $1 in 2017 at the beginning of Araghchi's time in office but it reached more than 110,000 to $1 by the time he was dismissed in 2018. The change partly coincided with severe US sanctions imposed on Tehran.
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