Video: Iranian currency down 34% from a year ago: rial dropped 40% after US sanctions Iran's central bank part of Iran's rial dives 4% to new record low

Video Related To: Iran's rial dives 4% to new record low

Source: NOW Lebanon
Tehrān : Iran | over 1 year ago
Iran's currency, the rial, dived four percent to a new low of around 28,000 to the dollar in open trading on Saturday, deepening a month-long sell-off, according to exchange tracking...
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Iranian currency down 34% from a year ago: rial dropped 40% after US sanctions Iran's central bank

Iran threatened to take action against the United States if the US Navy returns to the Persian Gulf. Iranian military leaders were quick to say that the US had withdrawn its aircraft carrier from the Gulf because of the Iranian military exercises. Iran's latest warning comes after the US adopted further sanctions which can penalise buyers of Iranian crude oil. This could dramatically affect Iran's national budget, of which at least 50% is received from oil revenues. According to Reuters, the Iranian rial fell to a record low against the dollar (17200 IRR to 1 USD) after US President Obama signed the latest sanction targeting the Iranian central bank. The rial has since rebounded some, but is still down 34% from a year ago. Many Iranians are rushing to banks and currency exchanges to get their money into US dollars ahead of any further depreciation. The Iranian central bank's director, Mahmoud Bahmani, said the sharp drop was "due to psychological effects" and was adamant that sanctions had not created any economic problems.
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