Iran's currency plunges to record low after Trump orders restart of 'maximum pressure' campaign

Tehran, Feb 5 (AP) Iran's currency plunged Wednesday to a record low of 850,000 rials to USD 1 after US President Donald Trump ordered a restart to the “maximum pressure” campaign targeting Tehran.

Trump's order, signed Tuesday night, calls for halting Iran's oil exports and pursuing a “snapback” of United Nations sanctions on Iran. However, he also suggested he didn't want to impose those sanctions and wanted to reach a deal with Iran.

The move comes as Trump's moves to freeze spending on foreign aid and overhaul, or even end, the US Agency for International Development have been lauded in Iranian state media.

Iranian officials appear to be signalling that they are waiting for a message from Trump on whether he wants to negotiate over Tehran's rapidly advancing nuclear programme.

At stake are potentially billions of dollars withheld from Iran through crushing sanctions and the future of a programme on the precipice of enriching weapons-grade uranium. (AP) GRS GRS

Source: PTI