Europe Weighing Additional Sanctions as Iran’s Currency Plummets

Europe Weighing Additional Sanctions as Iran’s Currency Plummets

Ali Mohammadi/Bloomberg

Iran’s rial is already in a tailspin, dropping 18 percent on Oct. 1, reaching a record low of 35,000 to the dollar on the unofficial market, and losing more than half its value against the dollar in street trading in the past two months.