In this picture taken on Monday, Dec. 26, 2016, a currency exchange bureau owner counts U.S. dollars in downtown Tehran, Iran. (AP Photo/Vahid Salemi)
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Iran replaced its central bank chief Wednesday, local media reported, amid fallout over banking scandals and the crisis facing the country's economy.Valiollah Seif, who had served as the bank's governor since President Hassan Rouhani took power in August 2013, was replaced by Abdolnasser Hemati following a cabinet meeting, according to the official IRNA news agency. Hemati, 61, previously served as head of Central Insurance of Iran, as well as both Sina Bank and Bank Melli. Rouhani vowed to crackdown on unlicenced banks when he came to power.
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