403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Iranian Rial Edges Lower Against US Dollar
(MENAFN) Iran's currency sank further against the US dollar Wednesday as tensions with Washington continued to batter the rial's open market value, a semi-official news agency reported.
The dollar surged more than 230,000 rials over just two trading days, reaching 1,811,000 rials — a jump of roughly 14% to 15%. Other major currencies, including the Euro, posted comparable gains against the embattled Iranian currency.
The latest slide echoes a severe depreciation episode last December, when the rial collapsed from approximately 1.2 million to 1.44 million rials per dollar, igniting widespread public protests against the government. Unrest escalated sharply in early January, turning violent on January 8–9.
Iranian authorities placed the protest death toll at 3,117, though several human rights organizations have estimated the figure at as high as 7,000.
The currency's renewed decline comes amid a broader military confrontation. In February, the US and Israel launched military operations against Iran — a conflict that was brought to a halt on April 8 following a ceasefire brokered by Pakistan.
The dollar surged more than 230,000 rials over just two trading days, reaching 1,811,000 rials — a jump of roughly 14% to 15%. Other major currencies, including the Euro, posted comparable gains against the embattled Iranian currency.
The latest slide echoes a severe depreciation episode last December, when the rial collapsed from approximately 1.2 million to 1.44 million rials per dollar, igniting widespread public protests against the government. Unrest escalated sharply in early January, turning violent on January 8–9.
Iranian authorities placed the protest death toll at 3,117, though several human rights organizations have estimated the figure at as high as 7,000.
The currency's renewed decline comes amid a broader military confrontation. In February, the US and Israel launched military operations against Iran — a conflict that was brought to a halt on April 8 following a ceasefire brokered by Pakistan.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment