The drop appears to have been driven by increased demand for foreign currencies.
Dubai:
Iran’s currency dropped to a record low of 1,810,000 rials to the US dollar on Wednesday, the Iranian Student News Agency (ISNA) said, marking a fall of about 15% over the past two days.
The drop follows weeks of calm in Iran’s free currency market and appears to have been driven by increased demand for foreign currencies, including the euro and the Emirati dirham.
Iranian currency tracking websites showed varying rates of between 1,760,000 and 1,810,000 rials to the US dollar.
(BreakingNews Nigeria.)