Iran currency slips to new lows amid U.S., Europe tensions
DUBAI - The Iranian currency extended its fall on Saturday, hitting a new all-time low against the U.S. dollar amid uncertainties about Donald Trump's imminent arrival in the White House and tensions with the West over Tehran's nuclear programme.
Facing an official inflation rate of about 35%, Iranians seeking safe havens for their savings have been buying dollars, other hard currencies, gold or cryptocurrencies, suggesting further headwinds for the rial. Iran's currency again declined after the board of governors of the UN nuclear agency IAEA passed a European-proposed resolution against Tehran - increasing the risk of new sanctions - and following the downfall of Syria's President Bashar al Assad, a long-time ally of the Islamic Republic.
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