Iran rial hits fresh low as dollar tops 1.5 million
Iran’s rial fell to a fresh record low on the unofficial market on Tuesday, with the US dollar quoted above 1.5 million rials, traders said.
The latest slide follows sharp swings since late December, when the currency’s fall helped trigger protests in Tehran and other cities.
Iran’s economy has been battered by years of sanctions and chronic inflation, prompting many Iranians to turn to hard currency and gold during periods of political and economic uncertainty.
