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Keyword: rial

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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...
  • Hyperinflationary Currency Collapse Is Leading To Big Anti-Regime Protests In Iran

    10/03/2012 5:45:56 AM PDT · by blam · 44 replies
    TBI ^ | 10-3-2012 | Joe Weisenthal
    Hyperinflationary Currency Collapse Is Leading To Big Anti-Regime Protests In Iran Joe WeisenthalOctober 3,2012 Earlier this week we wrote about how Iran's currency (the Rial) is in a state of total collapse, in part due to oil sanctions. It's obvious that the spiraling cost of things is having a major destabilizing effect. The BBC reports on protests: Riot police in Iran have clashed with protesters in the capital over sharp falls in the currency, the rial. Tear gas was used to disperse the demonstrators, some of whom were setting fire to tyres and rubbish bins. There were many arrests, reports...
  • Iranian Currency Dives, Ahmadinejad in Hot Water

    10/02/2012 8:42:14 AM PDT · by Eleutheria5 · 10 replies
    Arutz Sheva ^ | 2/10/12 | Tzvi Ben Gedalyahu
    Iranian President Mahmoud Ahmadinejad faces parliamentary questioning as Western sanctions help sink the “rial” currency by 20 percent in two days and Iranians run scared. The rial took a nosedive of 2-to-6 percent Tuesday following a dizzying 17 percent fall on Sunday in the wake of the threat of even tougher sanctions by the United States and Western allies. An almost certain sigh that the Iranian government is afraid of an economic catastrophe, which is exactly President Barack Obama’s game plan against the threat of a nuclear-armed Iran, is the government-controlled media ignoring the fall of the rial. The local...
  • 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.
  • Iran considers knocking three zeros off currency

    09/11/2007 7:44:19 PM PDT · by nuconvert · 27 replies · 813+ views
    Yahoo/AFP ^ | Sept. 11, 2007
    Iran considers knocking three zeros off currency Sep 11, 2007 TEHRAN (AFP) - Iran is examining a proposal to knock three zeros off its national currency to increase economic confidence and reduce the number of banknotes, the central bank governor said on Tuesday. However new central bank chief Tahmasb Mazaheri said the suggested revaluation would need to be carefully studied before it could be implemented. "This is at the suggestion phase," Mazaheri said, according to the IRNA news agency. "In carrying out the preliminary studies we have to accurately evaluate the uses of this work and necessary measures taken for...