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Keyword: irancurrency

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  • Iran’s Death Spiral – II

    11/23/2012 12:02:53 PM PST · by neverdem · 19 replies
    Energy Tribune ^ | November 8, 2012 | Steve H. Hanke
    By Steve H. HankeMy October 2009 Globe Asia column was titled “Iran’s Death Spiral.” In light of the recent events that have transpired in Iran, I think I might have been onto something back in 2009.Since early September, there has been an accelerated slide in the value of the Iranian rial. This slide has been punctuated by dramatic collapses in the demand for the rial. With each collapse, there has been something akin to a “bank run” on rials – with a sharp rise in the black market (read: free market) IRR/USD exchange rate (see the accompanying chart). Ironically, Iranians...
  • Iran's Tumbling Rial Undermines Its Support of Syria's Economy

    10/09/2012 4:59:54 PM PDT · by SunkenCiv · 8 replies
    al Monitor ^ | Tuesday, October 9, 2012 | Ibrahim Saif, translated by Rani Geha
    Last week, the Iranian rial continued its historic slide, falling to a record low against the U.S. dollar. Over the course of the week, the price of one dollar in Tehran rose from 34,200 rials to 37,500 -- a 10% drop in the rial's value. In fact, the currency has lost 75% of its value in one year. In late 2011, the price of the dollar was 13,000 rials. The latest slide in the value of the rial may well have been expected given recent trends, but the severity and speed of the drop surprised many... prices in Iran have...
  • Iran plans to take three zeros off currency

    04/03/2011 6:20:27 PM PDT · by nuconvert · 20 replies
    Reuters ^ | Apr 2, 2011
    (Reuters) - Iran aims to slice three zeros off the end of its currency which has weakened steadily over many years despite a policy to keep it loosely pegged to the dollar, the official news agency IRNA reported on Saturday.