Iran’s Rial rushed to a record minimum over the weekend, exceeding the symbolic threshold of 1 million Rials to the US dollar and dropping further to 1,043,000, which deepened the Earth’s economic crisis when returning to work after her Nowruz.
The collapse of the currencies comes in the middle of increasing uncertainty and pressure surrounding Iranian nuclear ambitions, renewing American sanctions and growing regional tension. On Teheran Ferdowsi Street, monetary traders, traders turned off digital rates and quoted volatile and unpredictable fluctuations.
Tehran requires a fair dialogue with us
Iranian President Masoud Pezshkian replied to riots by repeating the willingness of Tehran to engage in negotiations with Washington – but only from the position of mutual respect.
“If you want to negotiate, what is the sense of endangering?” PezeShkian said on Saturday. “America today not only humiliates Iran, but the world, and this behavior is contrary to the call for action.”
His comments came in the middle of the news that US President Donald Trump, now in his second term, addressed the highest leader Ayatollah Ali Khamenei in an effort to revive the stopped nuclear interviews. Tehran, however, resisted the entry into negotiations under coercive conditions, especially because Washington tightens the sanctions and step of military operations in the region.
Sanctions, military pressure weighs on Iran
Analysts say Rial’s rapid depreciation is powered by concerns about declining oil exports, inflation and permanent economic isolation. Trump’s revived “maximum pressure” campaign went on the sale of Iranian oil-including discounted consignments to China-A intensified the airport at Iranian militia in the Middle East.
Iran values continue to deteriorate and many citizens convert their savings on foreign currency, gold or cryptocurrencies to maintain value.
Growing public riots and political will
At home, the monetary crisis stimulated public frustration, caused concerns about further inflation and possible cuts for subsidies for gasoline – lowering past national protests.
The administration of President Pezshkian also got under fire. Parliament accused its Minister of Finance Abdolnasser Hemmati in March over the collapse of the currency. Most recently, Pezshkian rejected his vice -president for parliamentary affairs Shahram Dabiri after public outrage broke out during his luxury cruise to Antarctica – a trip that caused an outrage between the population trying to reach the end.
“In a situation where economic pressures on people are huge … expensive recreational trips of officials – even with personal funds – are not defendable,” PezeShkian said.
(Tagstotranslate) rial
