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Iran’s currency fell to a record low against the dollar on Sunday, with nationwide anti-government protests now in their third month. A breakdown in negotiations to restore Tehran’s nuclear deal has also hurt the value of the rial.
Traders in Tehran were exchanging the rial at around 370,000 to the dollar on Sunday, up from 368,000 on Thursday. Iran’s currency was trading at 32,000 rials to the dollar at the time of the 2015 nuclear accord that dropped international sanctions in exchange for tight controls on Iran’s nuclear program.
Iran has been gripped by nationwide protests since September. Demonstrations broke out following the death of 22-year-old Mahsa Amini in the custody of the country’s morality police. She was detained by the force for allegedly violating the Islamic Republic’s strict dress code for women.
