Iran’s rial weakens to new record low over US sanctions fears
by Bloomberg Oct 01, 2020
Iran’s rial weakened to a new low, breaching 300,000 to a dollar for the first time on the unregulated market in Tehran, three currency traders said.
It has now lost more than 46% of its value since January as the Middle East’s worst coronavirus outbreak compounded the impact of U.S. sanctions on critical oil exports. The deteriorating outlook triggered panic buying of euros and dollars on the open market.
Iran’s Rial at Record Low as Fears Grow Ahead of U.S. Election
The U.S. is considering yet more sanctions that would effectively sever Iran from the global economy. That proposal includes targeting those banks still able to facilitate imports, including of humanitarian goods, people familiar with the matter said on Monday.
Bloomberg
© Bloomberg
The author’s opinion are not necessarily the opinions of the American Journal of Transportation (AJOT).
Similar Stories
Brian Oravec appointed as Chief Investment Officer, Asia Pacific at Realterm
View Article
CBP intercepts over $30 million in methamphetamine at the Pharr International Bridge
View Article
WTCA Forum 2024 in New York underscores importance of international collaboration
View ArticleACD celebrates 2024 Annual Meeting in La Quinta, California
Today, the Alliance for Chemical Distribution (ACD) welcomed 666 members and industry leaders for its highly anticipated 2024 Annual Meeting held in La Quinta, California.
View ArticleHoliday spending still on track for steady growth amid ‘mixed signals’ in recent jobs and GDP data
The National Retail Federation still expects steady sales growth for the winter holiday season despite contradictions in the latest economic indicators, NRF Chief Economist Jack Kleinhenz said today.
View ArticleTrump Presidency will reignite US-China trade war and threaten a spike in ocean container shipping markets / Xeneta
Donald Trump’s victory in the US Presidential Election is ‘a step in the wrong direction’ for international trade as importers fear another spike in ocean container shipping freight rates.
View ArticleGet the most up-to-date trending news!
SubscribeIndustry updates and weekly newsletter direct to your inbox!
Follow us on social media:
