Iran’s rial currency traded Saturday at a record low against the U.S. dollar as the country returned to work after a long holiday, costing over 1 million rials for a single greenback as tensions between Tehran and Washington likely will push it even lower.
The exchange rate had plunged to over 1 million rials during the Persian New Year, Nowruz, as currency shops closed and only informal trading took place on the streets, creating additional pressure on the market.
But as traders resumed work Saturday, the rate fell even further to 1,043,000 to the dollar, signaling the new low appeared here to stay.
Trending: Tesla Owner Takes Punishment of Vandal Into His Own Hands and It Might Just Be Worse Than Jail
Iran’s rial currency traded Saturday at a record low against the U.S. dollar as the country returned to work after a long holiday,
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!