Iran’s Rial Nears Record Low Amid Ongoing Protests

Iran’s rial slid further on Monday, approaching its all-time low in unofficial markets, as the US dollar traded at around 1.43 million rials.

This comes despite the parliament’s decision to partially limit subsidized dollar handouts aimed at controlling price increases, The Caspian Post reports, citing Iran International.

The protests, which began on December 28, were triggered by the rial falling to a record low of nearly 1.44 million per dollar. The currency later recovered somewhat, reaching the 1.35 million rial range, but has since edged lower again amid continued unrest.