Iran's rial falls to new low, as coronavirus deaths hit new high

DUBAI (Reuters) – On Sunday the Iranian ria dropped down on the US dollar as the COVID-19 record regular mortality rial aggravating anxiety over new US penalties that could obstruct Iran's transactions of medication.

According to Bonbast.com, the dollar traded on the non-official market for as much as 312,200 rials, up from 304,300 on Saturday.

On Saturday, the economic daily Donya-e-Eqtesad gave 310,000 dollars from 303,300.

The Tehran dependent day announced that the blackout had deteriorated to 317,000 dollars on Sunday but regained some losses following the Central Bank 's announcement that it injects 50 million dollars a day into the currency.

In 2020, the currency lost about 57% of its value as oil price fall deepened the country's economic slump, which has also become the largest death rate of COVID-19 in the Near-East.

A new record of 251 is reached every day on Sunday.

On Thursday, the United States unveiled new restrictions against the financial sector of Iran, penalizing 18 banks to further squeeze Iranian revenues as Washington stepped up pressure on Tehran weeks before the presidency.

Analysts also said that sanctions will further discourage European and other international banks except for approved humanitarian transactions from engaging with Iran.

Editing by William Maclean ([email protected])

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