Iran rial slides to new low as coronavirus, sanctions weigh | Malay Mail

📆 7/5/2020 2:50 PM
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DUBAI, July 5 — The Iranian rial fell to a new low against the US dollar on the unofficial market yesterday, as the economy comes under pressure from the coronavirus pandemic and US sanctions. The US dollar was offered for as much as 215,500 rials, softening from 208,200 on Friday, according to...

A man counts Iranian rials at a currency exchange shop, before the start of the US sanctions on Tehran, in Basra, Iraq November 3, 2018. — Reuters pic

The US dollar was offered for as much as 215,500 rials, softening from 208,200 on Friday, according to foreign exchange site Bonbast.com. The economic daily Donya-e-Eqtesad's website gave the US dollar rate as 215,250, compared with 207,500 on Friday. A drop in oil prices and a slump in the global economy have deepened the economic crisis in the country, which also has the highest death toll in the Middle East from the pandemic.

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