Tehran: IranThe currency fell to its lowest value on Sunday as talks with world powers to revive the country’s broken nuclear deal remained stalemate.
Traders in Tehran exchanged the rial for US$332,000, up from 327,500 on Saturday. This marks a change of over 4.4% compared to June 1 when it traded at 318,000 against the dollar.
At the time of Tehran’s 2015 nuclear deal with world powers, Iran’s currency was trading at 32,000 rials against the dollar.
The rial’s new low comes as US sanctions against the country are still in force. Iran’s economy has been struggling mostly because of America’s withdrawal from the 2015 nuclear deal between Iran and world powers, which reinstated sanctions on Iran’s oil and banking sectors. Negotiations to renew the agreement in Vienna have been at a standstill for months.
In central Tehran, dozens of shop owners took to the streets to protest the deteriorating economic situation, after many shopkeepers closed their businesses following a recent increase in trade taxes. Police was present on the spot but did not intervene.
Meanwhile, police arrested 31 currency and gold traders on charges of creating “false demand” in the market, State TV detailed.
Separately, a spokesman for Iran’s Maha Air denied owning the Boeing 747 that Argentina seized on Monday after landing in Cordoba, Argentina.
Hossein Zolanwari told the officer IRNA News Agency That his company had sold Boeing to a Venezuelan company about a year ago.
“to cite great air With respect to the seized aircraft, it has been done for political purposes,” he said. He added that the crew of the plane also has no connection with Mahan Air.
It was not clear whether the plane was on the list of Iranian aircraft subject to US sanctions. Mahan Air has been subject to US sanctions for its links with Iran’s elite Revolutionary Guard Corps, which the State Department has designated a foreign terrorist organization.
leader of venezuela Nicolas Maduro Visited Iran over the weekend. Both countries are subject to US sanctions.
Traders in Tehran exchanged the rial for US$332,000, up from 327,500 on Saturday. This marks a change of over 4.4% compared to June 1 when it traded at 318,000 against the dollar.
At the time of Tehran’s 2015 nuclear deal with world powers, Iran’s currency was trading at 32,000 rials against the dollar.
The rial’s new low comes as US sanctions against the country are still in force. Iran’s economy has been struggling mostly because of America’s withdrawal from the 2015 nuclear deal between Iran and world powers, which reinstated sanctions on Iran’s oil and banking sectors. Negotiations to renew the agreement in Vienna have been at a standstill for months.
In central Tehran, dozens of shop owners took to the streets to protest the deteriorating economic situation, after many shopkeepers closed their businesses following a recent increase in trade taxes. Police was present on the spot but did not intervene.
Meanwhile, police arrested 31 currency and gold traders on charges of creating “false demand” in the market, State TV detailed.
Separately, a spokesman for Iran’s Maha Air denied owning the Boeing 747 that Argentina seized on Monday after landing in Cordoba, Argentina.
Hossein Zolanwari told the officer IRNA News Agency That his company had sold Boeing to a Venezuelan company about a year ago.
“to cite great air With respect to the seized aircraft, it has been done for political purposes,” he said. He added that the crew of the plane also has no connection with Mahan Air.
It was not clear whether the plane was on the list of Iranian aircraft subject to US sanctions. Mahan Air has been subject to US sanctions for its links with Iran’s elite Revolutionary Guard Corps, which the State Department has designated a foreign terrorist organization.
leader of venezuela Nicolas Maduro Visited Iran over the weekend. Both countries are subject to US sanctions.