Arab Today, arab today iran currency dives to record low
Last Updated : GMT 00:54:54
Arab Today, arab today
Arab Today, arab today

Iran currency dives to record low

Arab Today, arab today

Arab Today, arab today Iran currency dives to record low

Tehran - AFP

Iran\'s currency on Sunday slid to a new record low against the dollar, with the central bank saying it was trying to manage the plunge amid an \"economic war with the world.\" Street traders were exchanging one dollar for more than 24,000 Iranian rials, according to specialised websites giving real-time rates. That was a plunge of some five percent over Saturday\'s rate and around 10 percent since last Wednesday, when President Mahmoud Ahmadinejad admitted on state television that Western sanctions were causing \"problems\" in exporting oil and international financial transactions. The latest street rate was nearly double the fixed, official rate of 12,260 rials that the government reserved for its agencies and a few privileged businesses. Iran\'s rial has lost around half its value this year. It plummeted in January after the European Union and United States announced draconian sanctions that came into effect in July. Although authorities have in recent months intervened to stop the slide -- even briefly at one point trying to impose a cap on the rate -- the rial has returned to shedding value. The depreciation has added to inflation, which the central bank puts at 23.5 percent but which outside observers say is much higher. Food and imported goods have become much more costly. Market uncertainty has been exacerbated by bellicose rhetoric from Israel, the Middle East\'s sole though undeclared nuclear weapons state, which has threatened air strikes against Iran\'s nuclear facilities. \"The central bank cannot systematically lower the exchange rate, but we have attempted to control it,\" Central Bank chief Mahmoud Bahmani told reporters, the ISNA news agency reported. \"Our situation is one of war. We are fighting an economic war with the world,\" he said. Iran\'s authorities have vowed not to cede to the sanctions pressure, saying they will maintain their nuclear activities they insist are purely civilian in nature. EU foreign ministers meeting in Cyprus on the weekend said they were considering imposing further sanctions on Iran, voicing frustration at negotiations with the Islamic republic that have all but stalled. The so-called P5+1 group comprising the five permanent UN Security Council members plus Germany suspect that Iran may be trying to develop a nuclear weapons breakout capability. The UN Security Council has imposed sanctions of its own to press Iran to curb its nuclear activities.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iran currency dives to record low Arab Today, arab today iran currency dives to record low

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives Algerian heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives Algerian heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced

GMT 05:29 2017 Tuesday ,21 February

Sovereign funds pulled $38bn from markets in 2016
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday