The Iranian rial weakened by 4% on Saturday, according to The Zioneer. The decline extends a slide that earlier saw the currency hit a record low of 2.7 million per dollar, as reported by The Zioneer at 18:21.
The Iranian rial declined a further 4% on Saturday, according to The Zioneer. The drop follows The Zioneer's report at 18:21 Jerusalem time that the currency had reached a new record low of 2.7 million per dollar, also a decline of about 4%. The back-to-back reports indicate continued depreciation amid sustained U.S. sanctions and economic pressures on Tehran. The rial has lost roughly 16% since the US-Iran memorandum of understanding was signed, and has been in near-constant decline in recent months. No new specific rate was reported in this latest update.
4 developments
- StrongIranian media outlet profiles Mohsen Rezaei as 'most failed figure' in regime's power pyramid
- DevelopingSenior Iranian officials reportedly fear US restrictions will cause economic collapse
- DevelopingIranian parliament security spokesperson: 'Prepare to receive a severe blow from the Iranians'
- DevelopingIranian president warns economic pressure could erode public support for government
Source and signal
- Open-source intake