Intense differences surface in the Iran regime given currency depreciation

Tehran: Cornering of Iran on the international crisis and the protests that have been going on for the past four months has led to a record decline in the value of the Iranian currency, the Rial. In the international market, a fall led to a level of 430 thousand riyals for one USD. Due to this, the repercussions of the raging inflation are beginning to be felt in the Iranian Parliament. A UK-based Iranian news agency claimed that this had led to a rift among the hard-line leaders who had so far supported the government of Iran’s President Ibrahim Raisi.

In 2018, the then US President Donald Trump withdrew from the nuclear deal with Iran and announced new sanctions. European allies of the United States did not support this position of Donald Trump. But since then, the fall of the Iranian Rial has not stopped. Last year, US President Joe Biden announced the revival of the 2015 nuclear deal with Iran. Iranian Rial strengthened after it signalled that all sanctions against Iran would be lifted.

But for the last one and a half years, negotiations on this nuclear agreement between the United States and Iran have been going on without any outcome. This means that the sanctions imposed by the United States on Iran will continue. The effects of this have been seen on the Iranian Rial. In addition, for the last four months, there have been strong protests against the government and against the forced hijab in Iran. A UK-based Iranian news agency claimed that the protests also affected the value of the Iranian Rial.

The news agency reported that the Rial has fallen by 20 per cent since the anti-regime protests began. Ali Salehbadi, governor of Iran’s central bank, blamed the protests and US sanctions. A few weeks ago, Salehbadi took some measures to stem the decline. But even after that, Salehbadi failed to stop the devaluation of the Rial and it is claimed that he will soon be removed from office.

Meanwhile, the news agency said that the radical leaders in the Iranian Parliament and some military officers have also been agitated due to the fall of the Rial. The news agency pointed out that these leaders and military officers who supported President Raisi until a few weeks ago are criticizing Raisi.

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