[Economics] The Iranian rial fell to a record low against the dollar

[SnO]

On Saturday, the Iranian currency fell to a record low against the dollar.

The dollar was traded on the black market at up to 447 thousand riyals, compared to about 430 thousand the previous day.

 

 

This decline is due to factors, including expectations of possible sanctions from the European Union on the Iranian Revolutionary Guard or some of its members.

The European Union is discussing a fourth round of sanctions against Iran.

Diplomatic sources said - according to Reuters - that members of the Revolutionary Guards will be added to the bloc's sanctions list next week.

It is noteworthy that the Iranian riyal has lost about 29% of its value since the recent protests in the country.

 

https://www.aljazeera.net/ebusiness/2023/1/22/تراجع-الريال-الإيراني-إلى-مستوى-قياسي