Iranian currency falls to record low against dollar amid anti-govt protests

JEDDAH, 12 December 2022, (TON): Iran’s currency fell to a record low against the dollar, with nationwide anti-government protests now in their third month.

A breakdown in negotiations to restore Tehran’s nuclear deal has also hurt the value of the rial.

Traders in Tehran were exchanging the rial at around 370,000 to the dollar on Sunday, up from 368,000.

Iran’s currency was trading at 32,000 rials to the dollar at the time of the 2015 nuclear accord that dropped international sanctions in exchange for tight controls on Iran’s nuclear program.

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