DUBAI: The Iranian rial fell to a record low against the US dollar on theunofficial market on Sunday, a day after the US President Donald Trump’sadministration declared all United Nations sanctions on Tehran had beenrestored.
The dollar was offered for as much as 273,000 rials, up from 267,800 rialson Saturday, according to foreign exchange site Bonbast.com, which tracksthe unofficial market.
Iran has dismissed the US move as “void and illegal” and UNSecretary-General Antonio Guterres told the Security Council on Saturday hecannot take any action on the US declaration because “there would appear tobe uncertainty” on the issue.
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The three European parties to the nuclear deal – France, Britain andGermany – said in a statement on Sunday that any decision or action takento reimpose UN sanctions “would be incapable of legal effect” becauseWashington used a mechanism agreed under a 2015 nuclear deal between Iranand world powers, which the United States quit in 2018.
