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FinancialNews


  • 11-04-18

    Iranian currency hits bottom against US dollar

    (MENAFN) The Iranian currency has fallen to its lowest levels against the US dollar, forcing citizens to push for buying foreign currencies.

    The rial has declined by 18 percent since Saturday, with trading on Monday settling at 62,000 to the dollar.

    Iran generates around USD75 billion per year through foreign currency, with the majority of the profit gained from crude oil exports that were carried on following the 2015 nuclear agreement.

    However, US sanctions have caused the country to stay disconnected for the most part from international financial networks.

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