Iran’s currency was on Sunday sliding to a new record low against the dollar, with the central bank saying it was trying to manage the plunge amid an “economic war with the world.”
Street traders were exchanging one dollar for 23,710 Iranian rials, according to several specialized websites with real-time rates and one trader reached by telephone.
That represented a depreciation of more than three percent since Saturday and more than eight percent since last Wednesday, when President Mahmoud Ahmadinejad admitted on state television that Western sanctions were causing “problems” in exporting oil and international financial transactions. READMORE