The Iranian rial fell to a new low against the U.S. dollar on Saturday as the economy reels under the COVID-19 pandemic and U.S. sanctions.
The dollar was selling for as much as 263,500 rials on the unofficial market, up from 257,000 on Friday, according to foreign exchange site Bonbast.com. The economic daily Donya-e-Eqtesad’s website gave the dollar rate as 260,800, up 5,100 rials from Friday.
In mid-July, the U.S. dollar rose to around 255,000 rials but the rial then recouped some of its losses to trade at around 220,000 in August.
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