Iranian currency fall to a record low despite government support

Iranian currency fall to a record low despite government support

Posted 25/09/2012 08:38 PM

Dubai – (Reuters) – Iranian rial Hui five percent to its lowest level ever against the U.S. dollar, which indicates that the new government’s efforts to stabilize the currency may have backfired.

The site said it runs the risk of electronic currency rial reached 26,500 against the dollar on the free market this afternoon, compared with 25,200 at the close yesterday.

The Iranian currency has lost more than half its value in the last year because of U.S. and European sanctions
Source: altahreernews

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