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Iran's currency extends record fall against euro, dollar

Iran's currency extends record fall against euro, dollar
posted onMay 5, 2019
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Iran’s currency hit a new record low on Sunday, plunged to 170,000 rials against euros and 150,000 rials against US dollars, DW Persian reported.

Iran is struggling with the impacts of the US international sanctions since last year including currency crisis, wild inflation, poverty and unemployment.

US president Donald Trump and his administration has special focus on Iran’s oil business and are trying to reduce the exportation to zero level.

US President Donald Trump withdrew from Iran Nuclear deal on May 2018 and imposed new round of sanctions.

Iranian currency has lost more than two-third of its value since last year.