The Iranian rial rises 6% after the agreement to resume relations with Saudi Arabia

Walter

  • Time: 03/12/2023 08:44:11
  • Read: 1,612 times
The Iranian rial rises 6% after the agreement to resume relations with Saudi Arabia

{International: Al Furat News} The Iranian rial compensated for some of the losses it had recently incurred, recording an increase of more than 6% after Iran and Saudi Arabia agreed to resume diplomatic relations on Friday.

The foreign exchange website Bonbast.com indicated that the riyal recorded 447 thousand against the dollar on Saturday in the unofficial free market, compared to 477 thousand on Friday. Bazaar360.com said that the price of the riyal was 446,500.

The rial fell to a record low of 601,500 to the dollar in late February, but rebounded in March after tensions over Iran’s nuclear program appeared to ease with the visit of the head of the UN’s International Atomic Energy Agency to Tehran.

Talks between Iran and world powers aimed at curbing Tehran’s nuclear program in return for lifting sanctions have stalled since September, dimming Iran’s economic prospects.

With annual inflation running at more than 50 percent, Iranians are trying to protect the value of their savings by buying foreign currency or gold.

The rial has lost nearly 30% of its value since the nationwide protests began in September.

https://alforatnews.iq/news/%D8%A7%D9%84%D8%B1%D9%8A%D8%A7%D9%84-%D8%A7%D9%84%D8%A5%D9%8A%D8%B1%D8%A7%D9%86%D9%8A-%D9%8A%D8%B1%D8%AA%D9%81%D8%B9-6-%D8%A8%D8%B9%D8%AF-%D8%A7%D8%AA%D9%81%D8%A7%D9%82-%D8%A7%D8%B3%D8%AA%D8%A6%D9%86%D8%A7%D9%81-%D8%A7%D9%84%D8%B9%D9%84%D8%A7%D9%82%D8%A7%D8%AA-%D9%85%D8%B9-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9

Leave a comment