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In Iran, Economic Worries Grow as New US Sanctions Loom

by Associated Press

   TEHRAN, IRAN --

   Iran's currency has dropped to a record low ahead of the imposition of
   renewed American sanctions, with many fearing prolonged economic
   suffering or possible civil unrest.

   The rial dropped to 122,000 to the dollar on the thriving black market
   exchange Monday, from the previous low set the day before of 116,000.

   Already last month, protesters clashed with police outside parliament
   in Tehran amid three days of demonstrations sparked by the currency's
   plunge, and worries are growing about what might happen once the new
   sanctions kick in August 6.

   The central bank on Monday blamed the currency's free fall on ``the
   enemies' conspiracies.''

   President Donald Trump's administration announced the restoration of
   sanctions after he withdrew the U.S. from the Iran nuclear deal in May.