What happened in Iran? why value of currency decreasing?
Iran's currency rial fell to its record low on Saturday, april 5, 2025. Now 10,43,000 Iranian rials are equal to the US dollar. Earlier on march 20, during the Persian New Year Norooz, the value of 1 million Iranian rials fell more than the US dollar. After celebrating the new year, when people started returning to work again, its value fell further to 1,043,000 rials per dollar.
Pressure of international sanctions on Iran
According to the report of news agency AP, traders on Ferdowsi Street, considered the hub of currency exchange in Tehran, closed the currency exchange rate display board under the pressure of uncertainty. Iran's economy has been under pressure for many years due to international sanctions. Especially after the US withdrawal from the nuclear deal with Tehran in 2018, the country's economy has been affected even more.
trump targeted Iran
At the time of the deal in 2015, iran limited Tehran's uranium reserves to 300 kilograms (661 pounds) and enrichment to 3.67 percent in exchange for the lifting of international sanctions. During that time, the rial was trading at 32,000 per dollar. After being re-elected as US President in January, trump again started increasing pressure on Iran. Under this, he imposed sanctions on 16 organizations trading Iranian crude oil and the petrochemical industry. This also included companies selling at a discount in China. This further reduced the value of the rial. Market analysts say that the Iranian currency has fallen due to inflation pressure due to the fall in oil sales and international sanctions.
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