Iran currency sinks to 600,000 versus $

Iran’s rial currency sank to a record low against the U.S. dollar despite the country’s central bank passing measures aimed at cooling demand for foreign currency from savers worried about inflation and the country’s economic prospects.

But with stalled nuclear talks with global powers and mounting sanctions, Iran’s economic future has many Iranians worried.

The rial was trading at 575,000 on the unofficial free market against the dollar, compared to 540,000, according to foreign exchange site Bonbast.com. The website bazar360.com also gave the rate as 575,000. As the rial was 600,000 to one dollar, meaning it had lost some 20 percent of its value in six days – the fastest in the past two years.