Iran currency hits record low in black market trading

AFP, Tehran, 18 Jan 2012 – Iran’s currency, the rial, hit a record low against the dollar on Wednesday, the ISNA news agency reported, based on rates in black market trading that the government has tried to ban.
The rial’s plunge, to 18,000 to the dollar, comes ahead of an EU foreign ministers’ meeting next Monday that is expected to add further sanctions on Iran’s economy.