Iran's currency slides to record low as savers buy dollars

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Iran's currency slides to record low as savers buy dollars
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Iran's rial currency sank to a record low against the U.S. dollar on Saturday despite central bank measures aimed at cooling demand for foreign currency from savers worried about inflation and the country's economic prospects.

"While some analysts expected that, with the opening of this centre, emotional trading on the free market would decrease, the dollar continued its upward movement ... and the fervour has become even more intense on the futures market," economic website Ecoiran said.

The unrest has posed one of the biggest challenges to theocratic rule in Iran since the 1979 Islamic revolution.

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