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All tagged exchange
◢ Iran sold oil to private buyers through its energy exchange for the first time on Sunday, as part of its efforts to counter the imminent return of US sanctions. Only 280,000 barrels were sold out of one million offered, and went for USD 74.85 per barrel, more than USD 4 below the initial asking price.
◢ Iran's currency hit a record low on Sunday of 100,000 rials to the dollar amid a deepening economic crisis and the imminent return of full US sanctions. The unofficial rate stood at 102,000 rials by midday, according to Bonbast, one of the most reliable sites for tracking the Iranian currency. The rate was confirmed by a trader who spoke on condition of anonymity to AFP.
◢ Iran's currency fell more than six percent against the dollar on Sunday, hitting another record-low, as fears of a US withdrawal from the nuclear deal continued to drive speculation. The rial reached 55,200 to the dollar at the close on the open market—a drop of nearly a third in the past six months.
