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Asharq Al-Awsat

World

Asharq Al-Awsat

Iran’s Currency Falls to Record Low as Sanctions to Continue

Iran United States US Dollar Mohammad Reza Farzin Inflation

Iranians walk in Chitgar complex in the west of Tehran, Iran, February 4, 2023. Majid Asgaripour/WANA (West Asia News Agency) via Reuters

Iran's troubled currency broke below the psychologically key level of 500,000 rial per US dollar on Monday, as market participants saw no end in sight to sanctions.

The Iranian rial plummeted to a new record low of 501,300 against the US dollar, according to Bonbast.com which gathers live data from Iranian exchanges.

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