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Iranian rial hits record low against dollar

1 October 2012 Last updated at 19:09 BST

Iran's currency, the rial, has fallen as much as 18% on Monday, bringing it to a record low against the dollar.

Iran is all but frozen out of the global banking system because of US-led sanctions designed to discourage its nuclear ambitions.

The country is unable to sell its valuable oil assets, while its reliance on imports means the price of basic supplies is rising rapidly.

BBC Persian TV's Amir Paivar reports.