The Iranian rial fell to 112,000 to the dollar on the black market exchange from 98,000 to $1 the previous day, the Associated Press news agency reported.
If experts are to be believed, Iran is headed towards its worst economic crisis - ever since the first Gulf war - as upheaval in the domestic market combined with the pull-out of foreign businesses due to the upcoming USA sanctions, is likely to reverse the progress made by Tehran over the last four years.
Iran plans to offer price and tax incentives to private investors to take over idle state projects and help boost the economy, state media reported on Saturday, as the country faces likely US sanctions and the exit of many foreign companies.
In April, the government had pre-fixed a target before the central bank to upgrade the value of Rial to 42,000 against the US Dollar.
With the collapse of the rial's value against the United States dollar, Iran's implied annual inflation rate has surged to 203 percent, Forbes reported.Читайте также: Giuliani Bombshell: Cohen Taped 183 Conversations
The central bank blamed "enemies" for the fall of the currency and a rapid rise in the prices of gold coins and the judiciary said 29 people had been arrested on charges that carry the death penalty. But the trade continued amid public worries about a prolonged economic downturn. It has also triggered street protests and a public outcry over alleged profiteering and corruption.
Mr Trump has called the Iran nuclear agreement one of the worst deals ever negotiated but Iran's European partners in the agreement are preparing a package of economic measures of their own in a bid to salvage the accord.
On Aug. 7, the United States will reimpose sanctions on the purchase or acquisition of USA dollars by the Iranian government, Iran's trade in gold and precious metals, and on the direct and indirect sale, supply and transfer to or from Iran of graphite, raw or semi-finished metals, coal and industrial-related software.
Sanctions also will be reapplied to USA imports of Iranian carpets and foodstuffs and on certain related financial transactions.
But France has said it is unlikely that European nations will be able to put the package together before the November 4 deadline on stopping imports of Iranian oil.
Experts have warned that the reintroduction of the financial sanctions could see Iran's oil exports plummet by up to two-thirds this year.При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
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