Iran: Price of foreign currency stable despite sanctions

The price of foreign currencies including the U.S. dollar has stabilised in Iran recently despite sanctions ravaging its limping economy, according to local residents and store pricing. According to online currency exchange websites, one U.S. dollar is currently trading in at 42,105.00 Iranian Rial. U.S. President Donald Trump reimposed sanctions on the country after pulling out of a 2015 nuclear deal between Iran and six powers.

Sanctions had previously been lifted under the pact in return for Tehran curbing its nuclear program. In the two months since the sanctions were tightened, the confrontation has taken on a military dimension, with Washington blaming Tehran for attacks on oil tankers, and Iran shooting down a U.S. drone, prompting the aborted U.S. air strikes.