Iran’s rial hits a record low, battered by regional tensions and an energy crisis
TEHRAN, Iran (AP) — The Iranian rial on Wednesday fell its lowest level in history, losing more than 10% of its value since Donald Trump won the U.S. presidential election in November and signaling new challenges for Tehran as it remains locked in the wars raging in the Middle East.
The rial traded at 777,000 rials to the dollar, traders in Tehran said, down from 703,000 rials on the day Trump won.
Iran’s Central Bank has in the past flooded the market with more hard currencies as an attempt to improve the rate.
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