Iran's rial hits new low after minister acknowledges slide

A man buys Iranian rials from a seller of Iranian currency, before the start of the U.S. sanctions on Tehran, in Basra, Iraq November 3, 2018
A man buys Iranian rials from a seller of Iranian currency, before the start of the U.S. sanctions on Tehran, in Basra, Iraq November 3, 2018

The Iranian currency hit yet another all-time low of 780,250 rials to the US dollar on Monday after the country’s economy minister acknowledged the significant devaluation of the currency.