A money changer holds U.S. dollar banknotes as he counts other currency banknotes at Grand Bazaar in Tehran, Iran October 14, 2017. REUTERS/Reuters Photographers
Reuters: Iranian rial hits record low at 128,000 to the dollar- Bonbast website
The Iranian rial hit a record low against the U.S. dollar on the unofficial market on Monday amid a deterioration in the economic situation and the reimposition of sanctions by the United States.
The dollar was being offered for as much as 128,000 rials, according to foreign exchange website Bonbast.com, which tracks the unofficial market.
The currency has been volatile for months because of a weak economy, financial difficulties at local banks and heavy demand for dollars among Iranians who fear the pullout of Washington from a landmark 2015 nuclear deal and renewed U.S. sanctions could shrink Iran's exports of oil and other goods.
A set of U.S. sanctions targeting Iran's oil industry is due to take effect in November.
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Update: Iran currency hits all-time low against dollar (The News International/AFP)
WNU Editor: Here is an easy prediction. The rial will continue to plunge in value.
6 comments:
"Iran Currency Hits An All-Time Low Against The U.S. Dollar"
Merkel to the rescue
Election season is coming up even in Germany.
Count the results and adjust predictions.
Merkel will be remembered for a long, long time.
Hisory will not be kind to her nor should it.
And in the minds of neocon fantasists everywhere they dream the dream of all dreams... REGIME CHANGE.
Sorry fools it's never gonna happen. The Persians, much to their good taste, despise America and will for generations to come.
neocon fantasists
Libya & Iraq fell.
Libya was done by a neolib a-hole who went back on a U.S. agreement that Bush made.
But it was a neolib, so I do not have to defend that.
Venezuela is falling.
Corrales is gone. So he can no longer support Evo or Maduro.
Ortega is wondering if he can keep his hacienda he stole.
Anon, may you get your just deserts. May you see the inside of Evin prison.
Obama foolishly gave Iran tens of billions of dollars held in US banks then cleared sanctions releasing tens of billions worldwide. Result? Iran went all in on waging wars in Syria and Yemen. Trumps plan is to bankrupt Iran and encourage social unrest. A much better plan.
Iraq worked out great, good example!?!?
Anon at 11:37, I think you meant to say KSA and their Gulf state flunkies went all in on Yemen and Syria. Iran was invited by the legitimate Syrian gov't to oust the foreign interventionists. Long live the axis of resistance.
Sodom Hussein is gone and that was legit. He invaded Kuwait and the broke an armistice.
That Iraq is not stable is due to Iranian, Syrian, and Russian interference.
Since Syria acted committed acts of war against the U.S. during the Iraq conflict, we have a right to overthrow Assad.
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