News Briefs

  8/7/2012, Av 19, 5772

Iran's Rial Sinks to Historical Low

Iran's rial sank about five percent in trading against the U.S. dollar on Monday, after the central bank said it would change the currency's official exchange rate, prompting fears of another devaluation as the economy suffers from international sanctions. Reuters reported that the rial was trading in the free market at around 21,510 per dollar, down from about 20,440 on Sunday.