Left Menu
Development News Edition

Iran's currency hits lowest value ever against the dollar

US sanctions have caused Iran's oil exports, the country's main source of income, to fall sharply. Last week, Senior Vice President Eshaq Jahangiri said that Iran's oil revenues have plummeted to USD 8 billion from USD 100 billion in 2011.

PTI | Tehran | Updated: 20-06-2020 17:22 IST | Created: 20-06-2020 17:22 IST
Iran's currency hits lowest value ever against the dollar

Iran's currency has dropped to its lowest value ever at 190,000 rial for each dollar amid severe US sanctions against the country. The Iranian currency has tumbled from a rate of 32,000 rials to USD 1 at the time of Tehran's 2015 nuclear deal with world powers.

The rial unexpectedly rallied after President Donald Trump's decision to withdraw the U.S. from the nuclear deal and reimpose crippling trade sanctions over two years ago. US sanctions have caused Iran's oil exports, the country's main source of income, to fall sharply.

Last week, Senior Vice President Eshaq Jahangiri said that Iran's oil revenues have plummeted to USD 8 billion from USD 100 billion in 2011. Iran recently sent five tankers with at least USD 45.5 million worth of gasoline and similar products to Venezuela.

It was a way to bring money into its cash-starved Iran and put its own pressure on the U.S., which under Trump has pursued maximalist campaigns against both nations..


TRENDING

OPINION / BLOG / INTERVIEW

Pandemic must be impetus, not obstacle, for clean water access

To make matters worse, there are suspicions that the inadequacy of wastewater treatment methods in California, the rest of the USA, and indeed around the world may help to propagate the disease even more widely. ...

3D printing and the future of manufacturing post COVID-19

The on-demand, customizable, and localized manufacturing of product components facilitated by 3D printing has the potential to redefine manufacturing but there are certain technical, mechanical, and legal limitations that, unless ...

How UK’s 'best prepared' healthcare system failed to gauge COVID-19

The UK is proud of their public health system and its unlike any other country as around 90 percent of British public supports the founding principles of National Health Service. But without accurate data being available to stakeholders in ...

Poor on IHR capacity progress in 2019, WHO says Cambodia tops COVID-19 response

Despite being in proximity to Hubei, the original epicenter of COVID-19 pandemic, Cambodia has reported just 226 confirmed cases and zero deaths. After seeing the data, WHO appreciated Cambodias healthcare information system but experts dou...

Videos

Latest News

Vikings LB Smith to have open-heart surgery

Minnesota Vikings linebacker Cameron Smith is in need of open-heart surgery and will miss the upcoming season. Smith, 23, announced over social media on Saturday that he learned of his heart condition after undergoing additional cardiac scr...

Tigers slam four HRs in first inning, knock off Pirates

The Detroit Tigers blasted five homers, including four in their first five at-bats, as they powered past the host Pittsburgh Pirates 11-5 on Saturday. Niko Goodrum, Miguel Cabrera, C.J. Cron and Jeimer Candelario homered off Pittsburgh left...

Number of those injured in Beirut clashes rises to 490

Cairo Egypt Aug 9 ANISputnik The number of those injured in Saturdays clashes between protesters and security forces in Beirut has climbed to 490, Lebanons Al-Manar channel reported, citing the emergency medical services. Previously, the Le...

India's COVID-19 recovery rate stands at 68.32 pc

Indias patients recovering from COVID-19 cross the 14.2 lakh mark, taking the recovery rate across the country to 68.32 per cent, said the Ministry of Health and Family Welfare on Saturday. There has been a sharp increase in COVID-19 recove...

Give Feedback