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Iran says ready for nuclear flexibility

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The plummet of the rial was blamed on a combination of Iranian government mismanagement and the bite from tighter sanctions. Both measures have reduced the amount of foreign currency coming into the country.

Khamenei urged the nation to consume Iranian products and shun foreign goods to support domestic production.

"We should choose what we consume from among our own products. That some are always after foreign brands and names is wrong," he said. "Domestic consumption increases domestic production. When domestic production is increased, it will tackle unemployment and reduces inflation. These are all connected to each other."

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