Iran rial hits fresh record low

The rial was trading at 41,300 to the dollar, down from 34,600 in JuneIran’s currency plumbed new lows against the dollar on Sunday, continuing a six-month decline that has seen the rial lose some 19 percent of its value despite the lifting of sanctions. The rial was trading at 41,300 to the dollar, down from 34,600 in June — widening the gap with the official government rate which remains fixed at 32,300. The decline has quickened since the US election of Donald Trump, who has threatened to tear up the nuclear deal with world powers that removed many global sanctions in exchange for curbs to Iran’s atomic programme.

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