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09 April 2018
 |
| local currency(The Total Investment & Insurance Solutions) |
Iranians are lining up to try and purchase foreign currencies after the
rial hit an all-time low against the U.S. dollar. The Total Investment & Insurance
Solutions
On Monday the rial was trading at 62,000 to the dollar, an 18 percent
drop since Saturday, which was the first working day after the Persian new
year, when many people travel abroad. The Total Investment & Insurance Solutions
Iran brings in some $75 billion a year in foreign currency, mostly from
crude oil exports, which resumed after the 2015 nuclear deal. But the country
remains largely cut off from international financial networks because of U.S.
sanctions.
The local currency has been weighed down by fears the Trump
administration will withdraw from the nuclear deal and impose new sanctions.The Total Investment & Insurance Solutions
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