Iran's rial at all-time low over strong dollar, other woes

Markets Associated Press

  • In this picture taken on Monday, Dec. 26, 2016, a street money exchanger holds Iranian and U.S. banknotes in downtown Tehran, Iran. Iran’s currency has struck an all-time low this week, trading at 41,600 rials to $1. While making Iranian exports more attractive to the world market in the wake of the nuclear deal, it also means people’s savings continue to lose value in the Islamic Republic. Meanwhile, concerns gather about what U.S. President-elect Donald Trump might mean for the atomic accord going forward, even as most Iranians have yet to feel any change from it.(AP Photo/Vahid Salemi)

    In this picture taken on Monday, Dec. 26, 2016, a street money exchanger holds Iranian and U.S. banknotes in downtown Tehran, Iran. Iran’s currency has struck an all-time low this week, trading at 41,600 rials to $1. While making Iranian exports more ... attractive to the world market in the wake of the nuclear deal, it also means people’s savings continue to lose value in the Islamic Republic. Meanwhile, concerns gather about what U.S. President-elect Donald Trump might mean for the atomic accord going forward, even as most Iranians have yet to feel any change from it.(AP Photo/Vahid Salemi) (The Associated Press)

  • In this picture taken on Monday, Dec. 26, 2016, a customer counts U.S. dollars in a currency exchange bureau in downtown Tehran, Iran. Iran’s currency has struck an all-time low this week, trading at 41,600 rials to $1. While making Iranian exports more attractive to the world market in the wake of the nuclear deal, it also means people’s savings continue to lose value in the Islamic Republic. Meanwhile, concerns gather about what U.S. President-elect Donald Trump might mean for the atomic accord going forward, even as most Iranians have yet to feel any change from it.(AP Photo/Vahid Salemi)

    In this picture taken on Monday, Dec. 26, 2016, a customer counts U.S. dollars in a currency exchange bureau in downtown Tehran, Iran. Iran’s currency has struck an all-time low this week, trading at 41,600 rials to $1. While making Iranian exports ... more attractive to the world market in the wake of the nuclear deal, it also means people’s savings continue to lose value in the Islamic Republic. Meanwhile, concerns gather about what U.S. President-elect Donald Trump might mean for the atomic accord going forward, even as most Iranians have yet to feel any change from it.(AP Photo/Vahid Salemi) (The Associated Press)

  • In this picture taken on Monday, Dec. 26, 2016, a currency exchange bureau owner counts U.S. dollars in downtown Tehran, Iran. Iran’s currency has struck an all-time low this week, trading at 41,600 rials to $1. While making Iranian exports more attractive to the world market in the wake of the nuclear deal, it also means people’s savings continue to lose value in the Islamic Republic. Meanwhile, concerns gather about what U.S. President-elect Donald Trump might mean for the atomic accord going forward, even as most Iranians have yet to feel any change from it.(AP Photo/Vahid Salemi)

    In this picture taken on Monday, Dec. 26, 2016, a currency exchange bureau owner counts U.S. dollars in downtown Tehran, Iran. Iran’s currency has struck an all-time low this week, trading at 41,600 rials to $1. While making Iranian exports more ... attractive to the world market in the wake of the nuclear deal, it also means people’s savings continue to lose value in the Islamic Republic. Meanwhile, concerns gather about what U.S. President-elect Donald Trump might mean for the atomic accord going forward, even as most Iranians have yet to feel any change from it.(AP Photo/Vahid Salemi) (The Associated Press)

Iran's currency has struck an all-time low this week, trading at 41,600 rials to $1.

Continue Reading Below

Ten years ago, Iran's rial traded at around 9,200 to $1. Then came international sanctions over Iran's nuclear program.

The 2015 nuclear deal saw sanctions lifted in exchange for Iran limiting its uranium enrichment. While the rial rose immediately after the deal, it has taken a hit in recent weeks.

While a weak rial makes Iranian exports more attractive to the world market, it also means people's savings continue to lose value in the Islamic Republic.

Meanwhile, concerns gather about what U.S. President-elect Donald Trump might mean for the atomic accord going forward, even as most Iranians have yet to feel any change from it.

___

Continue Reading Below

Gambrell reported from Dubai, United Arab Emirates.