Iranian currency slumped to record low against US dollar after UN rebuke – The National

Iranian currency slumped to record low against US dollar after UN rebuke – The National

Iranian currency slumped to record low against US dollar after UN rebuke. The rial has lost about 70% of its value over several months due to pressure from US sanctions and impact of the pandemic on its economy. The Iranian rial fell to its lowest ever rate against the US dollar on the unofficial market on Saturday, a day after Tehran's rebuke by the UN nuclear watchdog increased the pressure from US sanctions and the coronavirus outbreak.. The dollar was offered for as much as 193,300 rials, up from 188,200 rials on Friday, according to foreign exchange site Bonbast.com, which tracks the unofficial market.. The economic daily Donya-e-Eqtesad gave the dollar rate as 190,800.. The International Atomic Energy Agency's 35-nation board of governors called on Iran on Friday to stop denying it access to two suspected former nuclear sites, raising diplomatic pressure on Tehran.. President Donald Trump withdrew the US from a multilateral deal aimed at curbing Iran's nuclear programme in May 2018 and reimposed sanctions that have battered the economy.. Central Bank chief Abdolnaser Hemmati said the psychological impact of the IAEA resolution on the rial was exaggerated and that Iran's economy could cope with the added pressure.. The