TEHRAN, Iran: Iran’s currency on Saturday dropped to its lowest value ever against the dollar, and has seen its value fall by 30% since June amid severe US sanctions imposed on Tehran.
Money exchange shops traded the Iranian rial 262,000 for a dollar. The rial had traded at 256,000 to $1 on Thursday, and markets were closed Friday, the start of the weekend in Iran.
The rial has tumbled from a rate of 200,000 in late June. Iran’s currency was at 32,000 rials to the dollar at the time of Tehran’s 2015 nuclear deal with world powers.
The currency unexpectedly rallied for some time after President Donald Trump’s decision more than two years ago to withdraw the US from the nuclear deal and reimpose crippling trade sanctions on Iran.
The sanctions have caused Iran’s oil exports, the country’s main source of income, to fall sharply.
On Friday, the head of Iran’s central bank Abdolnasser Hemmati said the government was trying its best to control the situation in the currency market.
Iranian officials for months have warned exporters to bring their foreign earnings home from abroad or face having their export licenses revoked, and central bank has warned it would publish the names of violators.
In June, the central bank reported that Iranian companies export more than $40 billion in non-oil products per year, and officials say some 50% of that remains abroad.
Iran’s currency hits new record low against the dollar
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Iran’s currency hits new record low against the dollar
- Iran’s currency was at 32,000 rials to the dollar at the time of Tehran’s 2015 nuclear deal with world powers
- The rial had traded at 256,000 to $1 on Thursday, and markets were closed Friday, the start of the weekend in Iran
UAE thwarts terrorist cyberattacks targeting vital sectors
DUBAI: The UAE successfully prevented terrorist cyberattacks that targeted the country’s digital infrastructure and vital sectors, in an attempt to destabilize the nation and disrupt essential services, state news agency WAM reported.
The UAE Cybersecurity Council said the attacks included attempts to infiltrate networks, deploy ransomware, and conduct systematic phishing campaigns targeting national platforms.
It also involved the exploitation of artificial intelligence technologies to develop sophisticated offensive tools, reflecting a qualitative shift in the methods employed by terrorist groups and their ability to harness modern technologies to carry out digital attacks, WAM reported.
The Council reiterated the country’s national cybersecurity defense system makes sure that the safety of individuals, the protection of personal data and the continuity of critical services remain top priorities.
It further urged the public to report any cyber threats or suspicious attempts to ensure digital security in the country.
