pakistan
Iranian rial hits new record low against US Dollar
Key takeaways
- Add ARY News on Google AAResize Iran’s currency (IRR) has fallen to new record lows against the US Dollar (USD) as it faces further economic strain from U.S.
- The Iranian rial was traded at about 1.8 million rials per USD on the free market and down from about 811,000 to the dollar just a year ago, according to reports.
- After experiencing some stability at the start of the current conflicts, increased volatility recently fueled demand for dollars, the country’s central bank said.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize Iran’s currency (IRR) has fallen to new record lows against the US Dollar (USD) as it faces further economic strain from U.S. Sanctions, regional conflict and a naval blockade.
The Iranian rial was traded at about 1.8 million rials per USD on the free market and down from about 811,000 to the dollar just a year ago, according to reports.
After experiencing some stability at the start of the current conflicts, increased volatility recently fueled demand for dollars, the country’s central bank said.
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