July Thirteen (Reuters) – Iran’s rial fell to its lowest recorded rate compared to the US dollar in the unofficial market on Monday, reported a currency exchange, as the economic effects of U.S. sanctions and the coronavirus pandemic worsen.
The dollar presented up to 235,500 riyals, according to the online website Bonbast.com, which tracks the unofficial market. The official rate on the central bank’s online website is 42,000.
U.S. President Donald Trump withdrew from a multilateral program to curb Iran’s nuclear program in May 2018 and re-imposed sanctions that hit the economy.
Lower oil costs and a crisis in the world economy through the pandemic have exacerbated Iran’s economic crisis.
The country has been slowing its closure since mid-April, but has recently reported a strong accumulation of coronavirus infections and deaths.
On Saturday, President Hassan Rohani called for a ban on giant gatherings such as weddings and revivals, but insisted that the economy remain open.
The Ministry of Health estimates that there were 203 coronavirus deaths in the last 24 hours, raising the total number of deaths in Iran to 13032 on Monday. There were 259,652 infections and 222,539 cures.
Khabaronline’s online news page reported Monday that Isa Jafari had the third Iranian MP to die from coronavirus. (Reporting through Babak Dehghanpisheh; Editing through Catherine Evans)
All quotes were delayed for at least 15 minutes. See here for a complete list of operations and delays.
© 2020 Reuters. All rights are reserved.