The Iranian rial fell to a new low opposed to the US dollar on Sunday, as a record COVID-19 aggravated considerations about new U. S. sanctions that may block some of Iran’s drug purchases.
For the latest headlines, check out our Google News channel online or via the app. The dollar was trading as high as 312,200 riyals on the unofficial market, up from 304,300 on Saturday, according to exchange site Bonbast. com. The online page of the business daily Donya-e-Eqtesad indicated that the dollar exchange rate was 310,000 compared to 303,300 on Saturday. The Tehran-based daily said the rial fell to $ 317,000, consistent with the previous dollar on Sunday, but recovered some of its losses after the central bank announced it would pump $ 50 million a day into the currency. The coin lost around 57% of its price in 2020 as falling oil costs exacerbated the economic crisis in the country, which also has the highest death toll from COVID-19 in the Middle East. On Sunday, the daily death toll reached a new high of 251. On Thursday, the United States imposed new sanctions on Iran’s monetary sector, penalizing 18 banks for suppressing Iranian revenues as Washington intensified tension on Tehran weeks before the elections. Americans. Analysts said the sanctions could further deter European and foreign banks from working with Iran, including for legal humanitarian transactions.
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