A photo published on Twitter shows the dollar rate in one of Tehran's exchange offices at 58,000 rials on Sunday April 08, 2018. RadioFarda
Bloomberg: Iran Vows to Halt Currency Slump as Rial Weakens to Record
* Weak economic outlook drives currency down, slows businesses
* Traders cite lack of overseas finance, fragile nuclear deal
Iran’s government said it will step up efforts to steady the currency after it weakened to a record, a slide that has rattled businesses and prompted some dealers to stop selling dollars and euros.
The rial, which had plunged through 50,000 rials to the dollar in February, depreciated to 60,000 on Monday on the unregulated market, according to Tasnim News agency and other reports.
The slump comes as the Trump administration nears a critical decision on its participation in Iran’s nuclear deal, and political feuding at home raises pressure on President Hassan Rouhani to deliver a stronger economy for ordinary Iranians. Traders have also been accused of deliberately driving the currency lower with speculative bets.
Read more ....
WNU Editor: The currency speculators are betting that President Trump will be walking away from the Iran nuclear deal, and the re-imposition of sanctions.
More News On Iran's Currency Continuing To Crash
Iran's rial hits new lows on Trump worries -- Reuters
Sudden Rise Of Dollar In Iran Stops Currency Trading On Free Market -- RadioFarda
Iran tries to halt record currency slump in the rial -- The National
What's really driving currency depreciation in Iran? -- Al-Monitor
1 comment:
Iran is f'ed
China caves in on trade
Russia sanctioned like f
ISIS decimated
Hmmm.. America is awake again and it seems they are rested. Putin better not test these guys the next couple years. I think they're seriously out to take names and remind everyone who's boss. Xi learned quickly he is too weak to challenge the US, and Kim Jong Un will not get to see the end of the year if he holds on to his dream of getting nukes. Guaranteed.
Post a Comment