(5 Sep 2018) The Iranian rial has fallen to its lowest rate on record, with the currency now trading at over 150,000 to the US dollar.
Since Saturday, the start of the Iranian working week, the rial has dropped over a quarter of its value.
On Wednesday, the end of the working week, currency exchange shops in Tehran posted rates of over 150,000 rials to 1 US dollar.
Worried Tehran residents lined up outside of beleaguered moneychangers on Wednesday.
Many exchange shops in downtown Tehran simply turned off their electronic signs showing the current rate for the US dollar while others wanting hard currency sought out informal money traders on street corners.
"The market is very chaotic and confusing," said Yunes, 27, seeking euros to travel to Turkey for business.
A couple planning on getting married soon were also after converting their rial savings into US dollars to protect its value from further falling.
There was no immediate acknowledgement of the drop on state media.
The collapse of Iran's currency has been fanned by US President Donald Trump's decision to pull America out of the nuclear deal with world powers in May.
That's despite the United Nations acknowledging Tehran still abides by the deal's terms, which saw it limit its enrichment of uranium in exchange for the lifting of economic sanctions.
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