rial

Desperate Iran May Turn to China for Help as Beijing’s Oil Purchases Plummet

The collapse of the rial currency and the looming threat of U.S. oil sanctions, scheduled to take hold in November, are reportedly leading Iran to turn to China for help keeping their economy afloat. A report Thursday suggests that China, itself struggling amid U.S. tariffs, may not be looking to save Iran and is diminishing its imports of Iranian oil.

Iranian President Hassan Rouhani and Chinese President Xi Jinping (R) review troops during a welcoming ceremony on January 23, 2016 in the capital Tehran. Chinese President Xi Jinping arrived on January 22, 2016 in Iran on the third leg of a Middle East tour aimed at boosting economic ties with …

Iran Announces Launch of Official Digital Currency

The Secretary of Iran’s Supreme Council of Cyberspace, Abolhassan Firouzabadi, announced on Sunday that the Islamic Republic would be bringing digital, or crypto, currency to the country in the near future regulated by the government.

This picture illustrates Iranians on January 12, 2012 counting and exchanging the United States 100-dollar bills and Iran's Rial banknotes, bearing a portrait of Iran's late founder of Islamic Republic Ayatollah Ruhollah Khomeini in Tehran. The Rial's plunge, to 18,000 to the dollar hit a record low on January 18, …