Economy

xchrom

(108,903 posts)

44. Iran's rial hits an all-time-low against the US dollar

Reply to Tansy_Gold (Original post)

Mon Oct 1, 2012, 08:20 AM

Oct 2012

http://www.bbc.co.uk/news/business-19786662

The Iranian rial has fallen by 25% in one week

Iran's currency, the rial, fell almost 10% on Monday to a record low against the dollar, leaving it with a loss of 25% in one week.

The rial was trading at 32,250 against the dollar at 12:00BST on Monday.

On Sunday, it was worth about 29,720, according to the Iranian currency-tracking website Mazanex.

The fall suggests economic sanctions imposed over its disputed nuclear programme are hitting economic activity ever harder.

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