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Iran’s currency plunges to record low as US sanctions loom

Rial has lost half its value since April amid weak economy and big demand for dollars by Iranians fearful of sanctions.

  • AlJazeera

Iran’s currency has plunged to another record low, dropping past 100,000 rials to the US dollar, as Iranians brace for August 7 when the United Statesis due to reimpose the first batch of sanctions on their economy.

Cenc 1aIn May, Washington pulled out of a landmark 2015 deal between world powers and Tehran under which international sanctions on Iran were lifted in return for curbs on its nuclear programme.

The US government…

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