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

EnergyAssociated Press

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

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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.

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Gambrell reported from Dubai, United Arab Emirates.