TEHRAN – The director of the foreign exchange office at the Central Bank of Iran was arrested on Sunday, local sources said.

Ahmad Araqchi’s arrest came a day after outlets reported his ouster by the new CBI chief Abdolnasser Hemmati. The bank, though, did not comment on the ouster.

The 40-year-old Araqchi had been in the position 4 days short of a year. During his tenure, the U.S. dollar jumped from around 42,000 to over 120,000 rials and then down to around 100,000.

SP/PA