Tehran: The currency of Iran fell to its all-time low on Saturday against the Dollar. The Iranian Rial has lost 30 percent against the US currency amid US sanctions on the country. In the foreign exchange market on Saturday, the rate of the Iranian Rial had fallen to 2,62,000 per dollar against the dollar. At this stage, its trading in the market was stopped.
On Thursday it was one dollar 256,000 riyals. The market remains closed on Friday. The final riyal rate fell to around 2,0,000 per dollar in June. In 2015, when Iran signed a nuclear weapons prohibition agreement with the world’s strongest countries, including the US, 32,000 Iranian rials had to be paid for one dollar.
Two years ago, US President Donald Trump announced to withdraw from the deal and impose strict trade restrictions on Iran. At that time there was a rapid phase in Iranian currency. Iran’s oil exports declined drastically after US sanctions. Oil is the main source of their income.
Abdul Nasser Himmati, the head of the Central Bank of Iran, said on Friday that the government was doing everything possible to control the situation in the foreign exchange market. Authorities have been warning exporters for months not to stop their income earned in foreign currency and bring it into the country. If they do not do so, they have been warned to cancel their license.
The central bank has said that the names of those who do not comply with the order will be published. A report by the bank in June said that Iran’s exporters exported $ 40 billion worth of other types of goods in the year except oil. Officials say that exporters have deposited half of this earnings abroad.
