Iran rial near record lows as Trump decision on nuclear deal looms | Reuters

Iran rial near record lows as Trump decision on nuclear deal looms | Reuters:

"Iran’s rial traded near record lows against the dollar in the free market on Tuesday as Iranians tried to buy hard currency, fearing economic turmoil if U.S. President Donald Trump withdraws from a deal on Iran’s nuclear program.

The dollar was selling for 65,000 rials, according to foreign exchange website Bonbast.com (www.bonbast.com), which tracks the free market. That was down from 57,500 at the end of last month and 42,890 at the end of last year.

Economists inside and outside the country said the rial was being driven down by heavy demand for dollars among Iranians who feared a U.S. pullout from the nuclear agreement would lead to the resumption of U.S. sanctions against Tehran, deterring other nations in Europe and Asia from developing business ties. "



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