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Iran currency hits record low after UN nuclear watchdog rebuked Tehran

Iran currency hits record low after UN nuclear watchdog rebuked Tehran
posted onJune 21, 2020
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The Iranian rial currency has dropped to its lowest-ever value against the US dollar on the unofficial market on Saturday.

The fall came a day after the UN nuclear watchdog International Atomic Energy Agency (IAEA) adopted a resolution against the Islamic Republic of Iran, urging the country to stop denying the agency access to two suspected sites.

According to foreign exchange site Bonbast.com, which tracks the unofficial market, the dollar was offered for as many as 193,300 rials, up from 188,200 rials on Friday.

The text of the resolution submitted by France, Britain and Germany and obtained by Reuters says the board “calls on Iran to fully cooperate with the Agency and satisfy the Agency’s requests without any further delay, including by providing prompt access to the locations specified by the Agency.”

“The IAEA suspects activities possibly related to developing nuclear weapons were carried out in the early 2000s at these sites,” the report said.