News : Economy

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.

By INU Staff

INU - Iran’s exports of crude and condensate oil are set to fall to a two-year low this month as purchases from its main Asian buyers will drop a massive one-fifth from last month, according to a source with inside knowledge of Iran’s tanker loading schedule.

By INU Staff

INU - The dire economic conditions in Iran has made the struggle to provide for their families difficult for many ordinary Iranians. Both prices and unemployment continue to rise. While the regime promised economic benefits would follow the lifting of various sanctions via the 2015 nuclear agreement, they have not materialized.

By INU Staff

INU - General Abdollah Abdollahi, who commands Khatam al-Anbia Construction Headquarters, a conglomerate of the Islamic Revolution Guards Corps (IRGC), has dismissed the latest criticism of the organization’s increasing role in the Iranian economy and claims that IRGC companies are undermining the private sector.