Iran's Rial Currency Hits New Record Low as US Prepares to Announce More Sanctions
DUBAI, United Arab Emirates (AP) — Iran’s currency hit a record low Monday as Washington prepared to announce new sanctions it said would be an “economic D-Day” and would add further pressure on an economy already battered by previous sanctions and a U.S. naval blockade.
TL;DR
- Iran's currency hit a record low of 2.02 million rials to the U.S. dollar on Monday.
- The U.S. is preparing to announce new sanctions, termed an 'economic D-Day'.
- The Iranian economy is already suffering from previous sanctions and war.
- The rial's value has been declining, reaching new lows due to nearly six months of conflict.