Iran’s rial has strengthened against the US dollar in the unofficial market mainly on speculations that US President Donald Trump’s sickness could hurt his re-election chances in the next month’s elections.
Iran’s currency has appreciated 40% in the past year, the country’s central bank governor said, recovering from historic lows reached after the U.S. abandoned the 2015 nuclear deal and reimposed sanctions.
Iran’s national currency the rial has resisted losses over the past days despite a new wave of American sanctions targeting the country’s central bank and its sovereign wealth fund.
The US dollar went on a downhill spiral in Monday and today trading in Iran’s free currency market by experiencing a historic plunge of above 20 percent within only hours.
