IRANIAN RIAL FALLS TO RECORD LOW OVER NUCLEAR DEAL

Sun 05 December 2021:

Iran’s national currency plummeted to new lows after further efforts to resurrect the country’s beleaguered nuclear pact failed, according to Bloomberg.

According to two local exchange businesses and media sources, the US dollar crossed 300,000 Iranian rials on open market on Saturday. The last time the rial hit this level was in October 2020, when it hit new lows against the dollar.

Efforts to salvage the 2015 nuclear agreement between Iran and international powers started this week in the Austrian city. However, the talks ended on Friday with no visible signs of progress. The next round of negotiations is set to begin next week.

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