12072016Wed

Value of Iran currency drops sharply

Iran Focus: Informed sources in Tehran Bazaar’s currency exchange reported a sharp drop in the Iranian currency, rial, against the dollar. As close of trading, each dollar was selling for 40,000 rials, compared to 35000 rials a day earlier, marking a 11.4 percent drop in its value. Iran Focus, Tehran, 1 Feb. – Informed sources in Tehran Bazaar’s currency exchange reported a sharp drop in the Iranian currency, rial, against the dollar. As close of trading, each dollar was selling for 40,000 rials, compared to 35000 rials a day earlier, marking a 11.4 percent drop in its value.

The state-run media refrained from reporting the sharp decline fearing that it might spark protests similar to those in October last year, when rial lost half of its value against the dollar.

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