Arab Today, arab today iran\s currency slumps 6 as sanctions bite
Last Updated : GMT 06:51:55
Arab Today, arab today
Arab Today, arab today

Iran\'s currency slumps 6% as sanctions bite

Arab Today, arab today

Arab Today, arab today Iran\'s currency slumps 6% as sanctions bite

Tehran - AFP

Iran\'s currency, the rial, slumped six percent in street trading Monday, accelerating a slide triggered on the weekend when the United States activated new sanctions over Tehran\'s nuclear drive. The rial was being exchanged for 17,000 to the dollar late Monday. Before US President Barack Obama on Saturday signed into law the new sanctions targeting Iran\'s financial sector and central bank, the rial was trading around 15,500 to the dollar. The European Union is mulling its own additional sanctions, including a possible embargo on Iranian oil imports. If those are decided at an EU foreign ministers\' meeting at the end of this month, Iran\'s rial could show further strain.  

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GMT 21:25 2017 Wednesday ,24 May

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