The Iranian rial weakened to a new record low of 1.93 million to the dollar on Friday, according to Abu Ali Express. The currency has breached the 1.9 million barrier and is at its lowest level ever.
The Iranian rial fell to a record low of 1.93 million per dollar on Friday afternoon, according to Abu Ali Express. The currency breached the 1.9 million barrier for the first time, surpassing the previous all-time low of 1.92 million set in early May.
The new low marks a rapid deterioration, coming just an hour after the rial was trading at 1.91 million, as The Zioneer reported at 13:09. The currency has lost over 1% in the past hour and has fallen sharply in recent weeks.
The rial's decline continues amid economic uncertainty in Iran, with the US-Iran memorandum of understanding failing to stabilize the currency. No official statement has been issued by Iranian authorities.
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