Live Update 
From the Liveblog of
Tuesday, August 7, 2018
From the Liveblog of
Tuesday, August 7, 2018
Iran money changers reopen after 5-month absence amid sanctions crisis
Add ToI as a Preferred Source on GoogleTEHRAN, Iran — Money exchange shops across Iran cautiously reopen after being shut for five months amid economic turmoil fanned by America’s withdrawal from the nuclear deal.
Shops open their doors in the Iranian capital, Tehran, though some display no exchange rates late into the morning.
Two traders tell The Associated Press that initial rates likely will be around 93,000 rials to the dollar, down from 98,000 to $1 on the black market the night before.
Iran’s official exchange rate remains 42,000 rials to $1.
Iran announced this week that exchange shops would reopen despite the United States reimposing some sanctions on the Islamic Republic late on Monday.
— AP
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