Iran’s currency dropped to its lowest value ever against the dollar, and has seen its value fall by 30% since June amid severe U.S. sanctions imposed on Tehran.
Money exchange shops traded the Iranian rial 262,000 for a dollar. The rial had traded at 256,000 to $1 on Thursday, and markets were closed Friday, the start of the weekend in Iran.
The rial has tumbled from a rate of 200,000 in late June. Iran’s currency was at 32,000 rials to the dollar at the time of Tehran’s 2015 nuclear deal with world powers.
On Friday, the head of Iran’s central bank Abdolnasser Hemmati said the government was trying its best to control the situation in the currency market.
