easyt65
Diamond Member
- Aug 4, 2015
- 90,307
- 61,150
"Iran's currency traded at a fresh record-low of 119,000 to the dollar on Tuesday, a loss of nearly two-thirds of its value since the start of the year as US sanctions loom.
The Iranian rial has been crashing in recent days as the country anxiously awaits the re-imposition of full US sanctions, starting on August 6.
It hit 100,000 to the dollar for the first time on Sunday and continued its decline, losing 18 percent of its value in less than two days.
On January 1, the dollar was worth 42,900 rials.
The government has been in crisis mode, replacing its central bank chief last week.
The central bank issued a statement on Monday, blaming the currency volatility on the "enemies' conspiracy" and vowing fresh counter-measures "in the coming days".
It was nice of Iran to give President Trump credit for their economy's collapse the way they did.
![Stick Out Tongue :p :p](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Iran currency drops 18% in two days
The Iranian rial has been crashing in recent days as the country anxiously awaits the re-imposition of full US sanctions, starting on August 6.
It hit 100,000 to the dollar for the first time on Sunday and continued its decline, losing 18 percent of its value in less than two days.
On January 1, the dollar was worth 42,900 rials.
The government has been in crisis mode, replacing its central bank chief last week.
The central bank issued a statement on Monday, blaming the currency volatility on the "enemies' conspiracy" and vowing fresh counter-measures "in the coming days".
It was nice of Iran to give President Trump credit for their economy's collapse the way they did.
Iran currency drops 18% in two days