$300 in Iran Looks Like a Mountain of Banknotes
4 Articles
4 Articles
$300 in Iran looks like a mountain of banknotes
A sum of just $300 appears in Iran as a string of several meters long bundles of banknotes, a sight that dramatically illustrates the devaluation of the Iranian currency. Images of large amounts of cash lying on a store counter are attracting attention, as the Iranian rial faces one of the worst periods of weakness in its history. In the free market, the US dollar crossed the 2.1 million rial mark on September 2, marking another negative record …
Crypto Briefing
Cryptocurrency News | Cryptocurrency Prices | Market CapIranian rial falls to record low of 2.25 million against US dollar
Iran's economic turmoil, exacerbated by geopolitical tensions, fuels global oil price volatility and accelerates the shift towards digital currencies.
The national currency, the rial, has lost 63% of its value against the US dollar since the US-Israeli conflict erupted in February. The euro has fallen to 2.55 million rials, while the price of a gold coin has reached 2.26 billion rials. The chairman of the Central Bank of Iran announced a $2 billion currency intervention in the market and acknowledged that inflation was putting “heavy pressure” on the population’s living standards. Banker.az ne…
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