✉news BusinessBanking first seen 22 h ago, last 51 min ago, peak #1

Iranian rial hits new low as central bank intervenes

Original: Iranian rial at new low, as cenbank sells dollars to support currency

The Iranian rial has fallen to a record low against the US dollar, prompting the central bank to intervene by selling dollars in an effort to prop up the currency. The slide reflects mounting pressure on Iran's economy, and the intervention has drawn attention to the limits of the bank's reserves and the broader strains facing the country's financial system.

Why now: The currency hitting a record low signals deepening economic crisis in Iran, drawing wide attention

IranCentral Bank of IranIranian rial

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• Iranian rial at new low, as cenbank sells dollars to support currency · Reuters
• Iranian rial at new low, as cenbank sells dollars to support currency · Middle East Eye

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