Iran's rial at all-time low against the dollar

TEHRAN, Iran — Iranians are lining up to try and purchase foreign currencies after the rial hit an all-time low against the U.S. dollar.

On Monday the rial was trading at 62,000 to the dollar, an 18 percent drop since Saturday, which was the first working day after the Persian new year, when many people travel abroad.

Iran brings in some $75 billion a year in foreign currency, mostly from crude oil exports, which resumed after the 2015 nuclear deal. But the country remains largely cut off from international financial networks because of U.S. sanctions.

The local currency has been weighed down by fears the Trump administration will withdraw from the nuclear deal and impose new sanctions.

People also read these

Bombers kill at least 6 attending Kabul funeral

Jun 3, 2017

Afghan officials says a trio of suicide bombers in Kabul have killed at least six people attending...

Third time's charm on visas for Afghan girls...

Jul 13, 2017

Third time's the charm for war-torn Afghanistan's all girls team who have been applying for U.S....

IS targets Iraq Embassy in Kabul; all 4 attackers...

Jul 31, 2017

IS suicide bombing targets Iraq Embassy in Kabul; hours-long gunbattle ends hours later with all 4...

Young Afghans see opportunities dwindle as...

Aug 16, 2017

Young Afghans face dwindling opportunities, mounting fears as security unravels

Afghan officials: Taliban wave of attacks kills...

Oct 17, 2017

Taliban attacks across Afghanistan target police compounds, government facilities, killing at least...

About Us

Get all the up-to-date breaking news about politics, business, entertainment, sports, lifestyles, weather, traffic, and local news in a seamless digital environment only in Morning Dispatcher.

Contact us: sales[at]morningdispatcher.com

Subscribe Now!

Quick Links

HomePress