Iran’s Currency Slides After Europe Moves to Reimpose Sanctions
Inside the Grand Bazaar in Tehran.
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Iran’s rial approached record lows on Saturday after major European powers took punitive steps against the Islamic Republic for failing to honor its nuclear commitments.
The currency dropped to 1,040,000 against the US dollar in the unregulated market on the first day of Iran’s working week, according to online currency trackers and a Tehran-based trader. That came close to historic lows around 1,050,000 seen in late March.
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