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Mike Shuster

Iran is stockpiling gold. That's the way David Cohen sees it. He's undersecretary of the Treasury, and the Treasury's point man for the banking sanctions the U.S. has imposed on Iran.

"Iran is attempting to hoard gold, both by acquiring it and by preventing the export of gold from Iran, in a somewhat desperate attempt to try and defend the value of its currency," Cohen says.

Iran is hurting. Economic and banking sanctions, plus an effective oil embargo led by the European Union, have brought chaos to Iran's economy. The bottom fell out of its currency, the rial, a couple of weeks ago, provoking street protests. Iranians of all social classes are struggling to cope.

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RACHEL MARTIN, HOST:

Well, this past week, the Russian government announced that it is dropping out of the program.

NPR's Mike Shuster has more on the consequences.

Large crowds of anxious Iranians gathered in Tehran on Sunday and Monday at foreign exchange offices — some of which had shuttered their doors — as Iran's currency continues its free fall.

From Sunday to Monday, the rial lost nearly one-third of its value against the dollar — and the decline appears to have continued Tuesday.

Yukiya Amano is frustrated.

Last week, Amano, the director general of the International Atomic Energy Agency, told a meeting of the agency in Vienna that he is aggravated by Iran's unwillingness to show the IAEA what's going on at a base called Parchin.

"Iran should engage with us without further delay on the substance of our concerns," he said. "We need to stop going around in circles, discussing process."

Bagpipes and Scotland? Aye, it's a natural association: Played for centuries, the instrument is especially identified with the Scottish military and traditional Scottish dress, tartan kilts and shawls.

But bagpipes and Pakistan? Nae, you say? Think again.

Turns out no place in the world manufactures more bagpipes than Pakistan. And no city in Pakistan makes more of them than Sialkot.

Bagpipe Central