#Iran's currency sees a new record low amid biting sanctions

Iran's currency sees a new record low amid biting sanctions:

Iran’s currency dropped Thursday to its lowest value ever at 300,000 rial for each dollar amid severe U.S. sanctions against the country.

The rial has tumbled from a rate of around 262,000 in mid-September, a 12% drop.

Iran’s currency was at 32,000 rials to the dollar at the time of Tehran’s 2015 nuclear deal with world powers.

U.S. sanctions have caused Iran’s oil exports, the country’s main source of income, to fall sharply.