Dollar hits record 1,084,000 rials in Iran ahead of snapback deadline
The US dollar rose to a record 1,084,000 rials on Thursday, deepening pressure on Iran’s currency as the deadline for the UN snapback sanctions mechanism approaches.
On Tuesday, Iran’s central bank governor Mohammadreza Farzin sought to reassure business leaders that the country’s foreign exchange and gold reserves remain secure.
On Wednesday, Oil Minister Mohsen Paknejad said that reimposition of UN sanctions will not add "new burdensome restrictions" on the country’s oil sales.
