IRAN'S CURRENCY PLUNGES TO RECORD LOW AS US SANCTIONS LOOM

RIAL HAS LOST HALF ITS VALUE SINCE APRIL AMID WEAK ECONOMY AND BIG DEMAND FOR DOLLARS BY IRANIANS FEARFUL OF SANCTIONS.

IRAN'S CURRENCY PLUNGES TO RECORD LOW AS US SANCTIONS LOOM

On Sunday, the Iranian rial plunged to 111,500 against one US dollar on the unofficial market, down from about 97,500 rials on Saturday, according to foreign exchange website Bonbast.com.
Other websites said the dollar was exchanged between 108,500 and 116,000 rials.
In May, Washington pulled out of a landmark 2015 deal between world powers and Tehran under which international sanctions on Iran were lifted in return for curbs on its nuclear programme.

Iran's currency has plunged to another record low, dropping past 100,000 rials to the US dollar, as Iranians brace for August 7 when the United States is due to reimpose the first batch of sanctions on their economy. In May,...

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