
Iran Focus
London, 31 July – The Iranian rial hit a record low on Sunday, trading at over 100,000 rials to the US dollar as the country braces itself for the first batch of economic sanctions from the US on August 7.
According to Iran’s unofficial market – this actually refers to the global exchange market following Iran’s decision to artificially fix the exchange rate following the last fall in the rial – the value of the rial dropped from 97,500 rials to the US dollar to 112,000 overnight this weekend.
These figures are gathered from foreign exchange website Bonbast.com, but other websites had the rial valued at between 108,500 and 116,000 rials per US dollar.


