The western Afghan city of Herat has become a thriving hub for the money exchange business, a consequence of geography and politics. Money-changers throng the currency market carrying thick stacks of Iranian currency, much of it brought in by the hundreds of thousands of Afghan workers who earn their living in Iran.
While the stacks of crisp 100,000 rial notes that money-changers bring to the market might look like a small fortune, the 10 million rials in each of these stacks is worth less than $400, because the Iranian currency recently lost more than half of its value.
According to Bloomberg, President Obama and Mitt Romney have aired nearly 30,000 TV spots addressing the issue of trade with China, and that's just in the past month. Many of those ads aired in Ohio where both candidates are spending a lot of time. NPR's Sonari Glinton explains the Ohio-China nexus.
SONARI GLINTON, BYLINE: If there's a boogeyman in the Ohio presidential sweepstakes, it's China.
There may be international sanctions against Iran, but not in Afghanistan's border provinces with the Islamic Republic where trade and money-laundering are thriving. Every day, millions in Iranian currency are brought in by taxis ferrying passengers. The Iranian money is exchanged for dollars, which are then shipped back to Iran. American officials recently ordered the Afghan banks to crack down on this phenomenon and it appears to be having some effect.
Today at All Things Considered, we continue a project we're calling NewsPoet. Each month, we bring in a poet to spend time in the newsroom — and at the end of the day, to compose a poem reflecting on the day's stories.
From NPR News, this is ALL THINGS CONSIDRED. I'm Robert Siegel.
MELISSA BLOCK, HOST:
And I'm Melissa Block.
Today, China announced that a prominent politician will be expelled from the Communist Party. Bo Xilai will also face wide-ranging criminal charges. NPR's Louisa Lim has this story from Beijing, on the latest developments in China's most sensational political scandal in decades.
This Sunday, a landmark composition of the 20th century will be webcast by NPR, and led by the quintessential 21st century conductor: 31-year-old Gustavo Dudamel, who will conduct the Los Angeles Philharmonic in Igor Stravinsky's Le Sacre du printemps (The Rite of Spring). Dudamel spoke about his experience of this earthshaking piece with All Things Considered host Robert Siegel.