Iran Rial Plunges 7% To New Record Low

The Iranian rial plunged more than 7% in open-market trade on Monday to a new all-time low of about 32,000 per US dollar, traders and currency-tracking websites said, meaning the currency has lost about a quarter of its value in the past week.

The rial traded at 32,250 on Monday, currency-tracking website Mazanex said; an Iranian foreign exchange trader in Dubai confirmed the drop. The Iranian currency was trading at 24,600 last Monday, according to currency-tracking site Mesghal.

Ynetnews