Free Republic

Iran's president sent a bill to parliament Wednesday that would cut four zeroes from the value of the Islamic Republic's sanctions-battered currency, the rial, as tensions remain high between Tehran and Washington. By sending the bill to lawmakers, President Hassan Rouhani's government shows it is serious about an idea discussed for some time in Iran, where people discuss monetary transactions in both rials and informally, but more commonly, in tomans. A toman is worth 10 rials. If passed by parliament and approved by lawmakers, Iran's Central Bank would in effect devalue the rial and rename it as toman. The bank...

https://www.bonbast.com/historical/usd/2018/08

The timing of the exercise is unusual, as it appears to be similar in scale and nature to a drill that ordinarily happens later in the autumn. It comes just days before the U.S. reimposes sanctions on Tehran after its withdrawal from the 2015 nuclear deal. The official, speaking on condition of anonymity, said several dozen boats were out training early Thursday morning. The vessels are mostly small attack boats, and there have been no interactions with U.S. ships in the area, the official added, according to AFP. In a statement, Captain Bill Urban, the military's Central Command spokesman, said...

Full Title: 'Death to the dictator!' Violence on streets of Iran as police use tear gas on furious protesters, including chador-clad women, demonstrating against 'corrupt regime' ruining the country while waging ideological war abroad Protests have broken out in a number of cities against Iranian regime this week Comes after the dramatic drop of Iran's currency and other economic problems 'The nation is forced to beg while the leader lives like God,' protesters chanted 'Death to the dictator!' Violence on streets of Iran as police use tear gas on furious protesters, including chador-clad women, demonstrating against 'corrupt regime' ruining the...

Iran's currency is continuing its downward spiral as increased American sanctions loom, hitting a new low on the thriving black market exchange. The Iranian rial fell to 112,000 to the dollar on Sunday, from 98,000 to $1 on Saturday. The government-set exchange rate was 44,070 to the dollar, compared to 35,186 on Jan. 1. The Iranian rial has been declining steadily for years but the drop has accelerated in recent months after the U.S. decision to pull out of the nuclear deal with Iran in May and announcement of increased sanctions beginning next month.

Iran's rial hit a record low against the U.S. dollar on Monday in a sign of concern about the country's ability to attract foreign money after U.S. president-elect Donald Trump takes office. The rial was quoted in the free market at 41,500 to the dollar, weakening from around 41,250 on Sunday and 35,570 in mid-September. Before this month, the record low was about 40,000, hit in late 2012, traders said. Economists said there were several reasons for the slide, including the dollar's strength against many currencies in the last few weeks, and uncertainty before next year's presidential elections in Iran....

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 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 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...

(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 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...