The Iranian rial has fallen to a new record low of approximately 2.7 million per dollar, according to The Zioneer. The central bank is reportedly selling up to $2 billion in an attempt to support the currency as international sanctions continue to pressure the Iranian economy.
01 · THE DISPATCH
The Iranian rial hit a new all-time low of 2.7 million to the dollar Sunday, a sharp decline from the 2.1 million per dollar rate The Zioneer reported in late August. The collapse reflects the deepening strain of US-led sanctions on the Iranian economy. Iran's central bank has responded by selling up to $2 billion in foreign reserves to prop up the currency, a measure that underscores the severity of the financial pressure.
02 · How it developed
2 developments
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03 · Source and signal
Source and signal
- Open-source intake