TEHRAN, Iran: Iran dismissed U.S. efforts to restore all U.N. sanctions on the country as mounting economic pressure from Washington pushed the local currency down to its lowest level ever on Sunday.
Irans currency dropped to 272,500 to the U.S. dollar at money exchange shops across Tehran.
The rial has lost more than 30% of its value to the dollar since June as sweeping U.S. sanctions on Iran continue to crush its ability to sell oil globally. Irans currency was at 32,000 rials to the dollar at the time of Tehrans 2015 nuclear deal with world powers, which was signed by the Obama administration but which the Trump administration pulled the U.S. from.
As the currency plummeted, Irans foreign ministry spokesman Saeed Khatibzadeh slammed the Trump administration’s declaration Saturday that all U.N. sanctions against…