Insider news & Analysis in Iran

By INU Staff

INU - Iranian state media announced on Wednesday that it would start tethering its currency exchanges to the euro instead of the dollar, in line with a plan that had first been floated years earlier as part of an effort to limit reliance on American currency. However, Reuters noted that it was not immediately clear whether the plan would be met with participation from a majority of relevant parties. Despite contrary government pressure, ordinary Iranians continue to use the US dollar for trade and savings, and various Iranian businesses continue to rely on it for international transactions.

By INU Staff

INU - Worries that U.S. actions will cripple Iran’s economy appear to have caused the country’s rial to lose 35 percent of its value against the dollar. Iran’s rial hit a record low early this week.

By INU Staff

INU - The Iranian currency dropped more than a fifth of its value since 2017 and now at an all-time low, mainly thanks to the Iranian Regime’s corruption and war-mongering.

By INU Staff

INU - With the uncertainty surrounding the future of the 2015 Iran nuclear deal, the Iranian rial has hit a record low. Iranians, concerned about what will happen if the United States exits the deal, are hoarding, even despite the crackdown that is being placed on foreign exchange dealers.

By INU Staff

INU - Hossein Raghfar, the prominent Iranian economist, told state-run Iranian Students News Agency (ISNA) on April 7th that 33 percent of the country’s population live in poverty, and around six percent are starving.

By INU Staff

INU - Iranians are angry at President Hassan Rouhani over the record fall of the Iranian currency. While the president has repeatedly dismissed the rise of the dollar against the rial as insignificant and transient, on March 28th the rial hit a new low of 52,000 to the US dollar. Just one year ago, the rial was around 38,000 to the dollar.

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