Euro Tops 3 Million Rials as Iran's Currency Hits Fresh Record Lows
5 Articles
5 Articles
The collapse of the rial amid the war and economic sanctions has sharply reduced the purchasing power of the population. According to financial observers, the average monthly salary in the country has fallen from the equivalent of around 120 euros to around 70 euros since the beginning of the year. The devaluation has made imports of consumer goods and raw materials particularly expensive and has further increased domestic price pressures. Resid…
The Iranian national currency Rial continues to lose value, the average monthly wage declines. The regime reports the execution of a protester. The live blog
The central bank announced a capital injection of up to $2 billion.
Iranian rial continues to decline, with the exchange rate on the open market rising to a record level of 3 million rials per euro ($1.12 million) for the first time, in the midst of war and economic sanctions, according to Iran's financial website Bon Basset, on Saturday. The rapid decline in currency leads to a sharp decline in citizens' purchasing power.
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