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Tags: ML | Iran

Iran's Rial at Worst Rate Yet amid Collapse of Nuclear Deal

Wednesday, 05 September 2018 05:38 AM EDT

TEHRAN, Iran (AP) — The Iranian rial has fallen to its lowest rate on record, with the currency now trading at over 150,000 to the U.S. dollar.

Since Saturday, the start of the Iranian working week, the rial has dropped over a quarter of its value.

On Wednesday, the end of the working week, currency exchange shops in Tehran posted rates of over 150,000 rials to $1.

There was no immediate acknowledgement of the drop on state media.

The collapse of Iran's currency has been fanned by President Donald Trump's decision to pull America out of the nuclear deal with world powers in May. That's despite the United Nations acknowledging Tehran still abides by the deal's terms, which saw it limit its enrichment of uranium in exchange for the lifting of economic sanctions.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
The Iranian rial has fallen to its lowest rate on record, with the currency now trading at over 150,000 to the U.S. dollar.Since Saturday, the start of the Iranian working week, the rial has dropped over a quarter of its value.On Wednesday, the end of the working week,...
ML,Iran
132
2018-38-05
Wednesday, 05 September 2018 05:38 AM
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