TEHRAN, Iran (AP) — Iran’s currency has hit a record low as Washington prepares to announce new sanctions. The U.S. has said the sanctions would add further pressure on an economy already battered by previous ones and an American naval blockade. The rial dropped to 2.02 million to the U.S. dollar as trading opened on currency markets Monday. Iran’s official Central Bank rate stood at around 1.5 million rial to the dollar, but the market rate is what most Iranians pay. The currency was already under pressure before the U.S. and Israel attacked Iran on Feb. 28, but has repeatedly hit new lows as nearly six months of war have taken an even greater toll.
Iran warns of a harsh response to anticipated US sanctions and other Middle East news
Iran is again warning about consequences in response to expected new U.S. economic sanctions, including for its neighbors. Iran’s Foreign Ministry spokesperson says Tehran will respond harshly. The measures are set to be announced Monday. Meanwhile, Israeli and Syrian officials have met less than a week after Israeli strikes in Syria. The U.S.-mediated discussions focused on restarting negotiations for a future security agreement. And Israel says it killed a Hamas commander. It’s the latest targeted strike in Gaza since Prime Minister Benjamin Netanyahu met with U.S. envoy Jared Kushner last week about making progress on the ceasefire.
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