Iran currency plunges immensely – a decline of six lakh Rials per US dollar

Dubai: Iran’s currency, the Rial, has set a new record low. As much as six lakh Iranian Rials have to be paid for one dollar and this decline has repercussions in Iran. On Friday, the value of the Iranian Rial was 5 lakh, 40 thousand per US dollar. It fell further on Saturday and the value of the Iranian Rial had fallen to 5 lakh, 75 thousand. On Sunday, this decline went beyond six lakhs. Besides, claims have been made that this time has dragged on Iran’s economy due to the protests that started against the Iranian regime. But the Iranian system is accusing the enemy countries of conspiracy behind this fall of Rial.

Moreover, the inflation rate in Iran exceeded 53 per cent in January. The people of Iran are suffering the dire consequences of this. In such a situation, Iran’s currency is depreciating more and more, and because of this, it is seen that the anger of the people has erupted due to inflamed inflation. Especially after the movement against the hijab compulsion that started in September of last year, Iran’s economy further declined. It seems that this movement has turned into a movement against the regime in the future. In the beginning, the students and women who protested against hijab were also joined by the workers and business class.

Despite trying hard to crush the movement, the Iranian regime has not succeeded on that front. Angry protesters have still been marching in some Iranian cities, chanting slogans against the regime. This is affecting trade and industry in Iran, and the anger against the Iranian regime seems to be increasing. In such a situation, the failure of the Iranian regime to prevent the fall of its currency will pose new challenges to the country.

In 2015, Iran successfully signed a nuclear deal with the West. But in the next period, the United States withdrew from this agreement. After that, Iran’s economy began to decline. After Joe Biden came to the President of the United States office, he tried for this nuclear agreement anew. But the agreement could not be reached due to Iran’s tough stance. The United Kingdom, France and Germany, favouring Iran in the past, have also expressed concern over Iran’s nuclear program. International organizations have warned that uranium enrichment in Iran’s nuclear program is on the verge of producing a nuclear bomb. Taking serious note of it, Israel can attack Iran at any moment. Also, Saudi Arabia and other Middle East countries, which see Iran’s nuclear program as a threat, are signalling that they will stand by Israel.

Due to this, Iran’s economy has become more vulnerable and instead of paying attention to its economy, the regime of Iran is preparing for war against the United States and Israel. Therefore, instead of solving the problems facing Iran’s economy, it is clearly seen that the severity of these problems will increase even more. Demonstrators are taking to the streets of Iranian cities to proclaim that we don’t want war and frenzy but stability and employment. Former leaders of Iran have also declared their support for the people’s demand, saying it is legitimate.

In such a situation, the decline of the Iranian Rial is increasing the concern of the regime of this country and it is claimed that the economic, social and political consequences of this will soon be seen in Iran. But the regime of Iran is firm on the accusations that all the enemy countries have done it. Through these accusations, the Iranian regime seems to have sent a message to its people that its policies will not change in the future.

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