Iran rial hits fresh low as dollar tops 1.55 million
Iran’s rial hit a fresh record low on the unofficial market on Wednesday, with the US dollar rising above 1.55 million rials, traders said.
The fall extended sharp swings since late December, when the weaker rial helped spark protests in Tehran and other cities.
Years of sanctions and high inflation have hurt Iran’s economy, pushing many Iranians to buy dollars and gold during periods of political and economic stress.
