TEHRAN, Iran (AP) — Iran's currency has fallen 16 percent in a single day to hit a record low against the U.S. dollar and other foreign currencies in street trading.
Street traders said Monday it reached 34,500 rials to the dollar. It was 29,500 rials on Sunday.
The collapse of the currency is a sign of the impact of Western sanctions imposed over Iran's nuclear program. The West suspects Iran is aiming to build nuclear weapons, a charge Tehran denies.
The fall came despite the country's inauguration last week of a new hard currency trading center to undercut the black market.
The current official rate is 12,260 rials to the dollar, but that is used only for special purposes such as importing food and medicine.
Saturday, May 18 2013 8:06 AM EDT2013-05-18 12:06:18 GMT
Two Metro-North trains collided around 6 p.m. in Fairfield, Conn., in between the Fairfield and Bridgeport stations. At least 60 people have been hurt, the governor said.
Two Metro-North trains collided around 6 p.m. in Fairfield, Conn., in between the Fairfield and Bridgeport stations. At least 60 people have been hurt, the governor said.
Saturday, May 18 2013 7:49 AM EDT2013-05-18 11:49:20 GMT
An airline official says a US Airways flight with 34 people aboard was forced to make a belly landing at Newark International Airport after experiencing landing gear trouble. No injuries were reported.
An airline official says a US Airways flight with 34 people aboard was forced to make a belly landing at Newark International Airport after experiencing landing gear trouble. No injuries were reported.
Friday, May 17 2013 9:12 PM EDT2013-05-18 01:12:56 GMT
A welcome sight in Coney Island: workers cleaning umbrellas, wiping down counters, and putting the finishing touches on a rebuilt Original Nathan's Famous.
A welcome sight in Coney Island: workers cleaning umbrellas, wiping down counters, and putting the finishing touches on a rebuilt Original Nathan's Famous.
Friday, May 17 2013 8:53 PM EDT2013-05-18 00:53:52 GMT
The New Jersey Sports and Exposition Authority has approved the master plan for the American Dream megamall in the Meadowlands sports complex. The approval at Friday's special board meeting means the
The New Jersey Sports and Exposition Authority has approved the master plan for the American Dream megamall in the Meadowlands sports complex. The approval at Friday's special board meeting means the
Friday, May 17 2013 8:28 PM EDT2013-05-18 00:28:27 GMT
Democratic Assemblyman Vito Lopez, who represents New York City, said he will resign June 20 amid a sexual harassment scandal and run for a City Council seat.
Democratic Assemblyman Vito Lopez, who represents New York City, said he will resign June 20 amid a sexual harassment scandal and run for a City Council seat.
Friday, May 17 2013 5:54 PM EDT2013-05-17 21:54:45 GMT
The big game will be played in New Jersey but the big party will be in New York City. Organizers call it "Super Bowl Boulevard."
The big game will be played in New Jersey but the big party will be in New York City. Organizers call it "Super Bowl Boulevard": it will stretch from 44th Street on Broadway all the way to 34th Street.
Friday, May 17 2013 5:03 PM EDT2013-05-17 21:03:04 GMT
A 21-year-old Hofstra University student was shot and killed during an apparent home-invasion robbery in Uniondale, Long Island. The suspect also died in the incident.
A 21-year-old Hofstra University student was shot and killed during an apparent home-invasion robbery in Uniondale, Long Island. The suspect also died in the incident.
Friday, May 17 2013 4:17 PM EDT2013-05-17 20:17:46 GMT
A Humvee carrying six Navy SEALs and two other sailors overturned during a training exercise at Fort Knox in Kentucky, killing one of the SEALs and injuring the others, military officials said Friday.
A Humvee carrying six Navy SEALs and two other sailors overturned during a training exercise at Fort Knox in Kentucky, killing one of the SEALs and injuring the others, military officials said Friday.
