Iran’s currency has plunged almost 10 per cent to a record low against the US dollar in recent days amid concerns over the impact of international sanctions and speculation the government is devaluing the rial to help narrow a massive budget deficit.
One US dollar bought 15,300 rials on the open market on Wednesday, from 13,800 on Saturday. The Iranian currency is down 30 per cent against the dollar this year.
One US dollar bought 15,300 rials on the open market on Wednesday, from 13,800 on Saturday. The Iranian currency is down 30 per cent against the dollar this year.
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