Historic collapse of the Iranian riyal against the US dollar
Historic collapse of the Iranian riyal against the US dollar
4/7/2020 13:17
Baghdad today – follow up
On Saturday, July 04, 2020, the Iranian riyal recorded a new historical collapse in today’s transactions on the black market of 207,000 riyals per dollar.
The Iranian riyal scored the lowest level in the country’s economic history, against the US dollar on the black market, despite the central bank pumping millions of dollars into the market.
The media reported that the dollar was trading in transactions on Saturday morning at 207 thousand, while Thursday the end of last week was 189.5 thousand riyals, while the official price for it on the website of the Central Bank is 42 thousand riyals for the dollar.
There are several reasons for the recent decline of the Iranian currency, among them the shortage of foreign currency, due to the sharp decline in oil exports, and the suspension or decline of exports with neighboring countries, due to the partial closure of the borders due to the Corona virus, and the recent decision of the International Atomic Energy Agency also contributed to condemning Tehran’s cooperation with the inspectors Internationals in the decline of the national currency.
Iranian President Hassan Rouhani and the central bank governor say recent instability in the currency market is temporary and transitory.
baghdadtoday.news
