Iran Rial Hits Record Low Against US Dollar After Sanctions Reimposed

The Iranian rial plummeted to a record low against the US dollar on Sunday after the reinstatement of United Nations sanctions, according to currency-tracking websites.

On the black market, the rial was trading at around 1.12 million rials against the dollar, the Bonbast and AlanChand websites reported, about a month after it had been slightly above one million rials to the greenback.