Iran's currency plunges as economic misery index soars, says Johns Hopkins economist
Independent aggregator of Iran-related News/Events, Kodoom.com: This week, while Iranian men and women were allowed, for the first time in years, to watch together the Iran-Spain World Cup match on big screens in Tehran's Azadi stadium, their national currency dropped to a historic low of 1/74000th of a US dollar, some 1000 times lower than its parity vs. US dollar right after the 1979 Islamic revolution. The historic low for Rial can be partly blamed on the talk of renewed economic sanctions by the Trump administration and lower oil prices and foreign currencies.
According to Steve Hanke, professor of applied economics at Johns Hopkins University, Iran now has the third highest Misery Index (sum of inflation and unemployment percentage rates) in the world, only below Venezuela's and Syria's.
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