Pressured by Trump and Coronavirus, Iranian Currency Falls to Record Lows
Politics and Economy News Blog, Kodoom.com
Pressured by renewed sanctions imposed by Donald Trump (after walking out of the Nuclear Deal with Iran), coronavirus pandemic impacts and record low oil prices in the world markets, Iran's economy is in crisis, leading to a historic devaluation of Iran's currency. This week, one U.S. dollar traded for 256000 Iranian Rials in open exchange markets, compared to 100000 Rials only two years ago, indicating a 150% devaluation of Iran's national currency over two years.
Officially, annual inflation rates in Iran now stand in the 35%-55% range.
Reacting to these developments, Iranian officials have refused Trump's efforts to make a clandestine deal with Iran to boost his re-election campaign in November, including a recent offer by Russia (Putin) to mediate between Trump and Iran. In June, Hossein Dehghan, a military advisor to Iran's Supreme Leader called Trump a "criminal" and said; "We will NOT negotiate with a criminal but open to unconditional talks with Saudi Arabians."
Recently Mohsen Rezai, a founder and former Commander of Iran's Revolutionary Guards Corps, compared Trump's political negotiations style to that of a "professional casino gambler" who will bluff and bet as long as risks are not too high: "Trump is like a [losing] gambler and if he feels he can win by military operations against us he would go for it [to save his Presidency] but we have made it clear to him that we have our fingers on triggers and will ensure he loses all bets and chips in this game if he starts anything because we have been waiting for [an excuse] to retaliate the assassination of commander Soleymani."
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- Iran Now A Powerhouse in Volleyball: U19 Team Tops FIVB Global Ranking for the First Time Ever
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- Iranians Make History in Summer Youth Olympics, Beat US, France, UK and Germany in Gold Medals
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- Iranian Climbs Fast! Alipour Wins Bronze in Sports Climbing World Cup
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- New World Rankings for Iranian Athletes
- Italian runner breaks a record in world's hottest spot in Iran
- Maryam Mirzakhani, Iranian math genius at Stanford, battling cancer
- A record 20 percent of Tehran City Council election candidates are women
- Southern California vintage winery is inspired by Persian culture (video)
- Record number of women elected in Iran's Parliamentary elections
