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Mining News Pro - 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.
According to Mining News Pro -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.
Last week, Iran`s parliament sacked the minister of economic
affairs and finance, the latest in a continuing shakeup of top
economic personnel. In early August Iranian lawmakers voted out
the minister of labour and in July President Hassan Rouhani
replaced the head of the central bank.
Protests linked to the tough economic situation in Iran
erupted last December, spreading to more than 80 cities and
towns and resulting in 25 deaths.
Sporadic protests, led by truck drivers, farmers and
merchants in Tehran`s bazaar, have continued since then and have
occasionally resulted in violent confrontations with security
forces.
(Reporting By Babak Dehghanpisheh; Editing by Toby Chopra and
Gareth Jones)
Short Link:
https://www.miningnews.ir/En/News/251950
Mining News Pro - The Iranian rial hit a record low against the U.S. dollar on the unofficial market on Monday amid a ...
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