US EditionIran's rial hits new low after unrest sparked by economic crisis
The rial fell to 1,590,500 per US dollar amid a severe economic crisis, protests, and government reforms, with over $2.45 billion in foreign exchange trades reported in two weeks.
- On January 28, Iran's rial hit a record low at IRR1,590,500 sell and IRR1,589,500 buy as markets reopened after more than two weeks of shutdowns, Bonbast exchange rate data showed.
- Rising inflation and policy changes pushed Iran's rial down as year-on-year household inflation hit 60% for December 21 to January 19, while the Iranian government unified exchange rates at the Foreign Exchange and Gold Market Centre and limited preferential foreign exchange payments to wheat and pharmaceuticals.
- Market data show over $2.45bn in transactions, and Kourosh Faghihi said, `When the market trades at this volume and rates have limited fluctuations, the message is clear: the market is not facing a currency shortage.`
- Markets grew jittery as reports of U.S. military action circulated while the USS Abraham Lincoln and guided missile destroyers moved in; buyers purchased dollars and gold, and security forces patrolled Ferdowsi Street on January 28.
- Activists and authorities offer conflicting tallies as Human Rights Activists News Agency reported 6,126 deaths and over 42,300 arrests, while Iran's government cites 3,117 deaths amid an internet blackout and state-run media labeling protesters `terrorists`.
14 Articles
14 Articles
Grave concerns after one month of anti-government unrest in Iran
It's been a month since one of Iran's deadliest periods of anti-government unrest in the history of the Islamic Republic. While mass protests have subsided amid a crackdown by security forces, a US-based human rights group has confirmed the deaths of more than 6,000 people, warning the total could stand at more than 20,000. Iran's official death toll is just over 3,000. There are also grave concerns for the tens of thousands who have been arrest…
Iran's rial falls to new low amid worries of possible U.S. strike a month after protests began
Iranian officials reached out to the wider Middle East on Wednesday over the threat of a possible U.S. military strike on the country, while the value of Iran's currency reached a new low a month since the start of protests that soon spread nationwide and sparked a bloody crackdown.
Winnipeg Free Press
Iran's rial currency plunges to a new low for the second day in a row at 1.6 million rials to $1
Breaking News, Sports, Manitoba, Canada
Coverage Details
Bias Distribution
- 56% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
