Iranian currency drops to record low as US plans to tighten sanctions
Majid Asgaripour/Wana News Agency/Reuters Iran’s currency – the rial – has dropped to a record low of more than two million to the US dollar on the open market, according to websites that track the currency’s movement.
A currency dealer holds Iranian Rial in the Grand Bazaar in Tehran, Iran, on August 17.
The free market rate is different from the official rate, which values the rial 29 percent higher against the US dollar.
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