Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Iran's rial drops to record low against the U.S. dollar

07/13/2020 | 01:31pm EST

July 13 (Reuters) - The Iranian rial fell to its lowest ever rate against the U.S. dollar on the unofficial market on Monday, a foreign exchange website reported, as the economic impacts of U.S. sanctions and the coronavirus pandemic worsen.

The dollar was being offered for as much as 235,500 rials, according to website Bonbast.com, which tracks the unofficial market. The official rate on the central bank website is 42,000.

U.S. President Donald Trump withdrew from a multilateral deal aimed at curbing Iran's nuclear programme in May 2018 and reimposed sanctions that have battered the economy.

A drop in oil prices and a slump in the global economy caused by the pandemic have deepened Iran's economic crisis.

The country has been gradually relaxing its lockdown since mid-April but has recently reported a sharp rise in coronavirus infections and deaths.

On Saturday, President Hassan Rouhani called for big gatherings such as weddings and wakes to be banned, but insisted the economy had to stay open.

Health ministry figures showed there were 203 deaths from coronavirus in the past 24 hours taking the total number of deaths in Iran to 13,032 on Monday. There have been 259,652 infections and 222,539 recoveries.

News site Khabaronline reported on Monday that Isa Jafari had become the third Iranian member of parliament to die as a result of the coronavirus. (Reporting By Babak Dehghanpisheh; Editing by Catherine Evans)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL 1.22% 46.32 Delayed Quote.-33.12%
WTI 0.81% 43.39 Delayed Quote.-32.15%
Latest news "Economy & Forex"
04:43aALROSA : ranked 2nd in the Forbes rating of the Best Employers in Russia
PU
04:42aCRH cost cuts set to deliver higher full year earnings
RE
04:39aOil hits highest since March, spurred by vaccine hopes
RE
04:37aBSA BUILDING SOCIETIES ASSOCIATION : Building societies deliver robust lending performance
PU
04:36aGerman insurers in 'final stages' of credit backstop extension talks
RE
04:33aAustrian unemployment rises during lockdown, labour minister says
RE
04:30aUK will remain global leader for asset management after Brexit-Sunak
RE
04:30aGermany's Ifo Index Falls as Second Lockdown Takes Toll on Business Sentiment
DJ
04:20aEd ‘NJWeedman’ Forchion Wages His Own War on Drugs – Sues the State of New Jersey Over ‘Bait and Switch’ Cannabis Regulation Laws
SE
04:19aGerman business morale drops second month in a row in November
RE
Latest news "Economy & Forex"