World News

Iran's rial hits all-time low under pressure from US

Iran's rial hits all-time low under pressure from US

The currency speculation may worsen as May 12 approaches-that is the deadline set by Trump for his decision on whether to keep the U.S. in the nuclear deal, formally entitled the Joint Comprehensive Plan of Action (JCPOA).

USA sanctions that were lifted under the Joint Comprehensive Plan of Action (JCPOA) of 2015 will resume unless Trump waives them again on May 12.

He also said, "Iran and Russian Federation are facing with common challenges in regional and worldwide fields and we are determined to face them more united than past by drawing a roadmap". Trump has effectively set that as a deadline for European powers to "fix the bad flaws" of the deal. Rouhani added, "Our response will be stronger than what they imagine and they would see that within a week".

President Rouhani says Iran's nuclear industry is advancing, but vows to stick with the 2015 deal with world powers.

According to Reuters, Rouhani also said on Monday that Iran's missile capabilities were purely defensive.

He made the comments at a "National Atomic Energy Day" event, where he unveiled the latest in nuclear technological developments, including developing centrifuges, separation and nuclear medicine.

Without mentioning the U.S., he said other parties to the deal are "instigating Iran" to break its commitment to the agreement.

The Islamic Republic condemned "strongly the aggression and the air strike by the Zionist regime" against the T-4 airbase in Homs, Iran's foreign ministry said in a statement.

Earlier, Iran said that it will not accept any changes to the nuclear deal, after the United States said it was seeking a "supplemental" accord with European powers.

The Iranian rial hit a record low against the USA dollar for the second time in two months over concerns about Iran's economy, rattling businesses and prompting some currency dealers to suspend trading.

A report from the World Threat Assessment states that USA intelligence believes "Tehran would choose ballistic missiles as its preferred method of delivering nuclear weapons, if it builds them".

Iran will try to unify its currency starting Tuesday and control sales of the dollar in a bid to stem a record decline in the rial's value on the unregulated market.


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