Iran’s currency drops sharply to an all-time low

Iran’s currency plummeted to an all-time low on Saturday, registering a more than 21-percent drop in a span of two weeks against the U.S. dollar, currency tracking websites and money changers said. The rial was traded at between 39,000 and 40,000 per dollar on the open market on Saturday, down from about 33,000 two weeks […]

Iran Sanctions Prompt Protests As Prices Rise

Thirty-three years after the first economic sanctions were introduced against Iran, the Islamic Republic is feeling the negative effects more than ever. Ordinary Iranians are reeling from soaring prices for household goods. The official inflation rate is 23%, but most analysts believe it is much higher.

Iranian police clash with protesters over Rial’s collapse

Riot police clashed with demonstrators and foreign exchange dealers in Tehran on Wednesday over the collapse of the Iranian currency, which has lost 40 percent of its value against the dollar in a week, witnesses said. Police fired tear gas to disperse the demonstrators, angered by the plunge in the value of the rial.

Iran’s rial plunged another 9 % to a new record low

Iran’s rial plunged at least 9 percent to a record low against the U.S. dollar on Tuesday as the industry minister said he hoped security services would root out speculators whom he blamed for the drop. The rial was trading at about 37,500 to the dollar, down from around 34,200 at the close of business […]