The governor of the Central Bank of Iran (CBI) has warned the households against engaging in fresh round of speculative trade of foreign currencies, saying a slight weakening of Iran’s rial was nothing to worry about.
Washington's use of the dollar as a political tool is backfiring as more and more countries are reducing their holdings of the greenback and switching to other currencies in trade contracts, Russian President Vladimir Putin said on Wednesday.
The Iranian national currency, the rial, was 118,000 against the US dollar on Sunday which shows a relatively high regain of value compared to months of low that followed the American introduction of crippling economic sanctions against Tehran.
Iran has adequate currency supplies to cover trade, and the rial has stabilized after 'a heavy attack' from the US-led economic sanctions on the Islamic Republic, said the governor of Central Bank of Iran (CBI).
The economic backlash for the Saudis over the disappearance of dissident journalist Jamal Khashoggi found new dimensions as the kingdom’s currency fell to its lowest level in two years in Monday's trading.