26 Apr 2024
Wednesday 5 September 2018 - 17:05
Story Code : 318470

Irans rial at worst rate yet amid collapse of nuclear deal

AP The Iranian rial has fallen to its lowest rate on record, with the currency now trading at over 150,000 to the U.S. dollar.

Since Saturday, the start of the Iranian working week, the rial has dropped over a quarter of its value.

On Wednesday, the end of the working week, currency exchange shops in Tehran posted rates of over 150,000 rials to $1.

There was no immediate acknowledgement of the drop on state media.

The collapse of Irans currency has been fanned by President Donald Trumps decision to pull America out of the nuclear deal with world powers in May. Thats despite the United Nations acknowledging Tehran still abides by the deals terms, which saw it limit its enrichment of uranium in exchange for the lifting of economic sanctions.
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