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Explained in plain English

What is a currency?

A currency is the system of money used in a particular country, like the British pound or the US dollar. The story mentions the Iranian rial dropped significantly against the US dollar. A strong currency means your money buys more abroad, while a weak one makes imports more expensive.

Stories that explain this

Iran central bank governor says country has enough foreign currency reserves

Related explainers

What are foreign currency reserves? What is a central bank? Why do prices keep rising? Why does the US sanction Iran? Why be a reserve currency? Why buy raw materials in foreign currency? What is a 'currency bet'? What is currency intervention?

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