Forex
Iran's Currency Crashes Amid Threat of New US Sanctions
Iran's currency has hit a new record low as the US prepares to announce stricter sanctions. On Monday, August 24, the rial dropped to 2.02 million to the U.S. dollar in trading on currency markets. This comes after the US and Israel attacked Iran on February 28.
The Trump administration has promised even stronger sanctions than those already in place, including secondary sanctions on countries that continue to do business with Iran.