Iran currency extends record fall as U.S. sanctions loom
July 29, 2018
Iran’s currency hit a new record low on Sunday, dropping past 100,000 rials to the U.S. dollar as Iranians brace for Aug. 7 when Washington is due to reimpose a first lot of economic sanctions. In May, the United States pulled out of a 2015 deal between world powers and Tehran under which international sanctions were lifted in return for curbs on its nuclear programme. Washington decided to reimpose sanctions upon its withdrawal, accusing it of posing a security threat. It has told countries they must halt imports of Iranian oil from Nov. 4 or face U.S. financial measures. READ MORE
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