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The value of the Iranian currency falls to a record level

2023-02-26 17:47:50, Ekonomi CNA
The value of the Iranian currency falls to a record level
Iranian currency, rial

Iran's currency fell to record lows against the US dollar on Sunday as anti-government protests entered their fifth month.

A blockade on the revival of the nuclear deal - which Tehran signed with world powers in 2015 - has also hurt the Iranian currency.

Traders in Tehran exchanged 600,000 rials for one US dollar on Sunday, as the currency weakened beyond the 500,000 rials to one US dollar on Wednesday.

At this time in 2015, 32,000 rials were exchanged for one US dollar after Iran had international sanctions lifted in exchange for limiting its nuclear activities.

Iran's Statistics Center said last week that the inflation rate reached 53.4 percent in January.

In January 2021, this figure went to 41.4 percent.

Iran has faced nationwide protests since September last year.

The protests erupted after the death of 22-year-old Mahsa Amini, who was in custody by the morality police, under the assumption that she did not put the veil on her head properly./ REL





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