DUBAI (Reuters) – The Iranian rial fell to a new low opposite the US dollar on Sunday, as a record death toll from COVID-19 increased considerations about new U. S. sanctions that could block some of Iran’s drug purchases.
The dollar amounts to 312,200 riyars in the unofficial market, up from 304,300 on Saturday, according to the Bonbast. com.
Donya-e-Eqtesad’s online page gave the dollar price at 310,000 from 303,300 on Saturday.
The Tehran-based newspaper said the rial had fallen to $317,000 per dollar the previous Sunday, but recovered some of its losses after the central bank announced it would inject $50 million per day into the currency.
The currency lost about 57% of its price in 2020, as lower oil costs aggravated the economic crisis in the country, which also has the highest number of COVID-19 deaths in the Middle East. 251 top.
The United States imposed new sanctions on Iran’s monetary sector on Thursday, penalizing 18 banks to further suppress Iranian profits as Washington intensifies pressure on Tehran weeks before the US election.
Analysts said sanctions could further deter European and foreign banks from working with Iran, even for legal humanitarian transactions.
(dubai. newsroom@thomsonreuters. com, edited through William Maclean)
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