(MENAFN) Iran's troubled national currency has reached a new all-time low as demonstrations continue and talks to revive the country's 2015 nuclear deal with foreign powers stall.
At the start of the working week on Saturday, the US dollar's open market rate surpassed 350,000 versus the Iranian rial for the first time. The rial fell more during the day, reaching around 362,000 per dollar.
Even after a subsidy reform plan earlier this year that abolished the use of this rate for imports of a number of key items, the Iranian government still maintains a considerably lower artificial rate of 42,000 rials for the dollar as its official figure.
The greenback was trading at around 300,000 rials per dollar in early September, but the Iranian currency has been on a downward trend since nuclear talks halted again and protests erupted across the nation in mid-September following the murder of a young lady in police custody.
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