Its exchange rate against the euro was around 545,000 rials per euro
The Iranian Rial fell today to historic lowwith its rate being set at 500,000-505,000 rials per dollara decline attributed mainly to international sanctions against it Tehran.
In the currency exchanges, its exchange rate against the euro was established, in the afternoon, at approx 545,000 rials per euro.
This slide started many months ago and led to resignation of the head of the Central Bank of Iran (CBI) in December, when the national currency had lost about 25% of its value in eight weeks. The new chairman of CBI, Mr Mohammad-Reza Farzinannounced today on television that a new organization, the “Gold and Coin Exchange» to better control the market.
Iran’s supreme religious leader, Ayatollah Ali Khameneiadmitted last Wednesday that the country faces many financial problems, such as accuracy, high inflation and currency depreciation. On Saturday, before Khamenei, President Ebrahim Raisi promised that “it will control foreign exchange rates and prices of living».
An executive of the Tehran Chamber of Commerce, the Mariam Hazaiexpressed regret that, as she said, Iran “it is the world’s sixth-highest-inflationary economy“, at 49%.
In recent months, pressures on the economy and the currency have intensified, due to the sanctions imposed by Western countries in response to the suppression of the protests that began on the occasion of death of Mahsa Amini on September 16, 2022 but also for the military aid that Iran is said to provide to Russia, which Tehran denies.
Today, the European Union added two Iranian ministers and 30 other persons to the “blacklist» of the officials against whom sanctions have been imposed due to the repression of the demonstrations.
Source :Skai
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