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link : Iran's Currency Has Lost a Quarter Of Its Value In The Past Four Days
Iran's Currency Has Lost a Quarter Of Its Value In The Past Four Days
Iranian rials are seen at a currency exchange shop in Baghdad, Iraq August 8, 2018. REUTERS/Khalid Al-Mousily
Reuters: Iran rial hits record low around 150,000 against dollar: FX websites
DUBAI (Reuters) - Iran rial extended its slide on Wednesday, hitting a record low around 150,000 against the dollar, according to foreign-exchange websites, as the country’s economic fortunes ebb after the United States re-imposed sanctions.
The dollar was being offered for 150,000 rials, compared with about 138,000 rials on Tuesday, according to website Bonbast.com,
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which tracks the unofficial market. The website bazar360.com also quoted 150,000. Mesghal.online gave an exchange rate of 152,530.
The rial has lost more than two-thirds of its value this year because of a weak economy, financial difficulties at local banks and heavy demand for dollars among Iranians. Many fear the Washington’s pulling out of a 2015 nuclear deal and renewed U.S. sanctions will cut into Iran’s exports of oil and other goods.
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Update: Iran’s rial at worst rate yet amid collapse of nuclear deal (AP)
WNU Editor: The collapse of the currency will not only significantly raise the inflation rate, but it will put enormous political pressure on the Iranian government of Hassan Rouhani.
Update #2: Yup .... Rouhani’s Only Use Now Is as a Scapegoat (Bloomberg).
The rial has lost more than two-thirds of its value this year because of a weak economy, financial difficulties at local banks and heavy demand for dollars among Iranians. Many fear the Washington’s pulling out of a 2015 nuclear deal and renewed U.S. sanctions will cut into Iran’s exports of oil and other goods.
Read more ....
Update: Iran’s rial at worst rate yet amid collapse of nuclear deal (AP)
WNU Editor: The collapse of the currency will not only significantly raise the inflation rate, but it will put enormous political pressure on the Iranian government of Hassan Rouhani.
Update #2: Yup .... Rouhani’s Only Use Now Is as a Scapegoat (Bloomberg).
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