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Markets

Iran currency crashes 9pc to record low

Published Updated

iran currencyTEHRAN: Iran's currency, the Rial, plunged nine percent against the dollar at the opening of trade on Monday, to a record low of 32,500 to the greenback, real-time exchange websites showed.

 

The freefall exacerbated a slide over this year that accelerated last month, amid heightened tensions over Iran's nuclear programme and as the effects of draconian Western sanctions against the Islamic republic fed into its economy.

 

Copyright AFP (Agence France-Presse), 2012

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