Friends, the Central Bank of Iran is not doing a very good job!
Iranians were
lining up Monday, April 9th 2018 to try and purchase foreign currencies after the rial
hit an all-time low against the US dollar.
The rial was
trading at 62,000 to the dollar, an 18 percent drop since Saturday, 7 April which was
the first working day after the Persian new year, when many people travel
abroad.
Iranians were
lining up Monday to try and purchase foreign currencies after the rial hit an
all-time low against the US dollar.
The rial was trading at 62,000 to the dollar, an 18
percent drop since Saturday, which was the first working day
after the Persian new year, when many people travel abroad.
Iran
brings in some $75 billion a year in foreign currency, mostly from crude oil
exports, which resumed after the 2015 nuclear deal. But the country remains
largely cut off from
international financial networks because of US sanctions.
The local currency has been weighed down by fears the Trump
administration will withdraw from the nuclear deal and impose new sanctions. Watch the video below.
https://www.youtube.com/watch?v=bLW4KgKDo1o&feature=push-u-sub&attr_tag=xBKVfTDf5Lwp564i-6
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