Iranian currency falls to its lowest level ever

On Sunday, the value of the Iranian currency fell to its lowest level ever, as talks to revive the nuclear deal reached a dead end.
Today, traders in Tehran are trading one dollar for 332,000 riyals, up from 327,500 on Saturday, according to the Associated Press.
This represents an increase of 4.4% compared to the beginning of June, when the local currency was traded at 318000 against the dollar.
The Iranian currency was trading at 32,000 riyals to the dollar when the Iran nuclear deal was in effect.
The new decline in the value of the Iranian rial comes at a time when US sanctions against Tehran are still in force.
The Iranian economy continues to suffer greatly, mostly because of the US withdrawal from the Iran nuclear deal, which led to the reimposition of sanctions on Iranian oil and the banking sector.
And the talks in Vienna aimed at reviving the nuclear deal reached a dead end.
Meanwhile, Iranian police have arrested 31 currency and gold traders on charges of creating “false demand” in the market, state TV reported, without giving details.