Iran’s rial hits new low against dollar as economy reels

Iran’s rial hits new low against dollar as economy reels

Iran's rial hits new low against dollar as economy reels

Iran's rial hits new low against dollar as economy reels

Iran's rial hits new low against dollar as economy reels

Iran's official exchange rate - used mostly for imports of state-subsidized food and medicine - is 42,000 rials per dollar. (AFP)

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Iran's rial hits new low against dollar as economy reels

The US dollar was selling for as much as 304,300 rials on the unofficial market

Official exchange rate - used mostly for imports of state-subsidized food and medicine - is 42,000 rials per dollar

Updated 10 October 2020

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The Iranian rial fell to a new low against the US dollar on Saturday as the economy reels under pressure from the COVID-19 pandemic and US sanctions.

The dollar was selling for as much as 304,300 rials on