Iran rial hits an all-time low against the US dollar
September 27, 2020
5000 rial . The 5000 Rial banknote was worth over $70 before the islamic regime took over in 1979. today it is worth less than 2 US cents. The rial has been steadily falling against the US Dollar after the Trump administration slapped back sanctions
The national currency of Iran plunged to new lows on Saturday as the dollar advanced to new record high against the rial . The greenback hit the critical 290,000-rial level for the day in Iran’s open market
Soon after the upsurge in the unofficial market, selected exchange bureaus affiliated with the Central Bank of Iran pushed up rates to avoid arbitrage.