Here’s a comforting message on a Sunday morning that follows Saturday night’s Iranian attack on Israel: 1 Iranian Rial now equals 0.000090 Shekel. Put another way: it takes 600,000 rials to get one US dollar, meaning the rial has lost 30% of its value in one week. Iran’s annual inflation rate has surpassed 50%, food prices are soaring, and Iranians are exchanging their money for gold.
As IranWire put it so eloquently: “The combination of a weakening currency, rising tensions, and a potential trade imbalance threatens to create significant economic hardship for the Iranian people.”
https://www.jewishpress.com/news/mi...inks-to-660000-rial-to-the-dollar/2024/04/14/
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