Iran’s currency continued its free-fall on Tuesday trading at a fresh record-low of 119,000 to the dollar, a loss of nearly two-thirds of its value since the start of the year as US sanctions loom.
The Iranian rial has plummeted in recent days as the country anxiously awaits the re-imposition of full US sanctions, the first of which will snap back starting August 6.
The rial hit 100,000 to the dollar for the first time on Sunday and continued its decline, losing 18 percent of its value in less than two days. On January 1, the dollar was worth 42,900 rials.
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