The Iranian rial extended its losses, reaching 1,918,000 to the dollar, according to financial reporter Asaf Rozenzweig (N12), continuing the currency's downward trend.
The Iranian rial continues to weaken, with financial reporter Asaf Rozenzweig (N12) reporting a rate of 1,918,000 rials to the dollar. This follows an earlier report from The Zioneer on Friday at 14:11 Jerusalem that the rial had hit 1.93 million to the dollar, an all-time low. The new figure of 1.918 million represents a slight strengthening in the rial's value compared to that earlier low, but Rozenzweig's description of the currency as 'continuing to crash' highlights ongoing volatility. The rial has been under severe pressure since the US-Iran memorandum of understanding was signed in June, when it stood at 1.52 million to the dollar. Since then, it has lost roughly 16% of its value, with periodic fluctuations. The broader economic backdrop includes rising inflation and uncertainty over the implementation of the MOU, as well as tensions with the US and regional dynamics. Today's move suggests the currency remains in a fragile state, with no clear stabilization in sight.
2 developments
- DevelopingIranian rial slides further, topping 1.77 million to the dollar in new low
- DevelopingIranian rial slides further, dollar nears 190,000 toman in Tehran market
- DevelopingIranian rial loses 13% of value in under two weeks despite Hormuz opening
- StrongShekel weakens as dollar jumps 1.2% to near 3 shekels
Source and signal
- Internal intake