Iran’s currency fell as nuclear talks appear to have encountered obstacles Reuters

© Reuters. File photo: On August 8, 2018, a supplier inspects the Iranian rial at a currency exchange shop in Baghdad, Iraq. REUTERS/Khalid Al-Mousily

DUBAI (Reuters)-The Iranian rial fell on Saturday, but it was still above historical lows. Earlier news reported that negotiations with world powers to restart the 2015 Iran nuclear agreement may encounter difficulties.

Indirect negotiations between the United States and Iran to save the Iran nuclear agreement in 2015 were suspended from Friday to next week. European officials expressed disappointment at the comprehensive demands of Iran’s new tough government. Washington said Tehran “doesn’t seem to be serious.”

According to data from the foreign exchange website Bonbast.com, the price of the U.S. dollar on the unofficial market in Iran on Saturday was as high as 302,200 rials, higher than Friday’s 294,000 rials.

The economic news website eghtesadnews.com wrote: “The market was hit by the nuclear agreement (negotiations) for the first time.” It stated that the U.S. dollar rose by 6,000 rials to 299,500 rials before it rose above 300,000 on Saturday.

In October 2020, due to the fall in oil prices intensifying the country’s economic crisis, the country’s economic crisis has been affected by U.S. sanctions and the highest number of deaths from COVID-19 in the Middle East. As a result, the rial hit a record low of approximately 320,000 U.S. dollars to one U.S. dollar. .

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