Authorities attempt to calm the market, step up enforcement on the ''black market''
Authorities attempt to calm the market, step up enforcement on the ''black market''
Government’s narrative: crisis the result of psychological factors, effects of sanctions, and speculators’ activities
''Mr. President, how many thousands of tomans does the dollar have to reach for you to resolve the matter?''
''Mr. Ahmadinejad, are you the president of the country?''
Reactions among Iranian public: from online comments to violent clashes
Reactions among Iranian public: from online comments to violent clashes
Reactions among Iranian public: from online comments to violent clashes
Bazaar riots: merchants or hooligans?
Supreme Leader keeps silent and (for now) remains defiant on nuclear policy
- Authorities attempt to calm the market, step up enforcement on the “black market”
- Government’s narrative: crisis the result of psychological factors, effects of sanctions, and speculators’ activities.
- Government critics’ narrative: crisis the result of government’s failed economic policy and mismanagement
- “Mr. President, how many thousands of tomans does the dollar have to reach for you to resolve the matter?”
- Nation’s dignity lies not only in nuclear energy but also in currency value
- “Mr. Ahmadinejad, are you the president of the country?”
- Reactions among Iranian public: from online comments to violent clashes
- Bazaar riots: merchants or hooligans?
- Supreme Leader keeps silent and (for now) remains defiant on nuclear policy
The collapse of the rial has been at the center of Iran’s public and media discourse this week. The free-market rate of the Iranian currency dropped by nearly 40 percent this past week alone. The rial has lost a total of 125 percent in the past four months and nearly 250 percent since the beginning of 2011.
On Tuesday the dollar was trading at 36,500 against the rial. The dollar lost some ground due to intervention by Iran’s Central Bank and was trading at 32,600 against the rial, only to climb back up to 35,500 rials after a press conference convened by President Ahmadinejad ended with no mention of any practical plan to bring the foreign currency market under control. The dollar declined on Thursday, October 4; according to various reports it was trading at 27,000 to 36,000 against the rial. The dollar’s official exchange rate, which was set by the Central Bank on January 28, remains unchanged at 12,260 rials.
