The Iranian currency has continued to plummet after new EU sanctions. In exchange offices, the dollar exchange rate exceeded 500,000 riyals for the first time on Tuesday amid political isolation. The euro exchange rate rose to around 530,500 rials. On Monday, the EU imposed new sanctions on those responsible in Iran for serious human rights violations in the context of the most recent protests. According to financial experts, sanctions and Iran’s political isolation are a major reason for the devaluation of the rial. The deadlocked negotiations to revive the 2015 Vienna nuclear deal have also unsettled traders in the foreign exchange market. The future of the nuclear deal is uncertain. In the past ten years, the rial has lost more than 90 percent of its value against the euro.
Rial – Iranian Currency Plunges – Economy
