Iran’s currency fell again to new historic lows on Wednesday, breaking the 430,000 riyal resistance point against the US dollar amid global political isolation and economic woes.
As the dollar hit 432,700 rials on Wednesday, regime hardliners began blaming the government of President Ebrahim Raisi, who belongs to their camp.
The rial has now lost about 80% of its value compared to mid-2021 and has fallen nearly 50% since December 2021. Inflation is also soaring. Food prices jumped much faster than overall inflation, with some commodities he has risen 100% in a year.
On Wednesday, Khabar Online, An article was posted on a conservative site in Iran It is growing among hardliners in the country. Congressional hardliners and some in the military have recently begun to criticize the presidential administration they had admired. It tries to defend itself, blaming everything primarily on US sanctions, foreign pressures, and the international economic situation.
“The dollar problem in Iran is a complex one,” the article read, and the same hardliners who wrote to former President Hassan Rouhani urging him not to blame sanctions for the country’s deteriorating economic situation are now pointed out that it was blaming the problem of popular protests. State media have tried to pretend that the reason behind the rial’s decline is a foreign conspiracy fueling unrest across the country.
Economic analyst Albert Bogosian told Rouydad24 on Wednesday that the situation was so chaotic that no one would want to take responsibility for it. “The government does not see the lifting of sanctions as important and necessary and has no interest in freeing the country from sanctions. So when the dollar reaches 500,000 or 600,000 rials, I don’t feel uneasy.”
talk to revive the 2015 nuclear deal – or the JCPOA – and Lift Most of the US sanctions have stalled since August when the last attempt by the European Union to broker a deal failed.
Some reports call for Iran Central Bank Governor Fired (CBI) Ali Salehabadi is on the rise. He reportedly asked the president for his three-month opportunity. Salehabadi on Wednesday denied rumors that the government is profiting from the devaluation of the rial. Some argue that the government encourages the depreciation of the rial to sell dollars at a higher rate and increase the rial to pay salaries and other expenses.
While the rial plummeted, the Raishi government Even the national budget has not been finalized The following year in Iran starting on March 21st.
Economic turmoil is behind the biggest challenge to the Islamic Republic since its inception in 1979. Iran has been rocked by nationwide anti-government protests since mid-September after the murder of 22-year-old Mahsa (Zhina) Amini. in police custody. She was arrested for violating the country’s mandatory hijab rules. turned his back on
