Iran is trying to arrest the fall of its currency against the dollar

Wednesday, April 11, for the second consecutive day, queues were formed in front of currency exchange offices in Tehran without that practically no exchange takes place. Since the government introduced on April 10, a fixed exchange rate between the dollar and the rial, the national currency, it became impossible for the Iranians to exchange their foreign currencies in exchange for greenbacks.

The government took this decision to halt the fall of its currency, which has lost more than 30% of its value against the dollar in six months. The reason of this downfall ? The Iranians fear a collapse even more pronounced if the president, Donald Trump is executing its threat to withdraw in may the United States of the international agreement on the iranian nuclear issue.

Black market

Since Tuesday, Iran no longer allows that the exchange rate of 1 us $ = 42 000 rials iranian, against 60 000 the day before. Hoping to buy the green tickets at the new lower rate, and thus secure their holdings, the Iranians are lined up in exchange offices. In vain… Because despite statements to the reassuring of the vice-president of iran, Eshagh Jahangiri, who was, on the 9th of April, that “all the country’s needs will be satisfied at this rate of change [unified] by the central bank,” iran, the dollars promised have not been provided, requiring some exchange offices in down the curtain.

On the black market, the dollar is stripped to 50,000 rials, and this, even if the vice-president has threatened all those who practise other rates of “judicial proceedings” are comparable to those reserved for ” drug traffickers “. A dozen dealers of foreign exchange have already been arrested. Another measure : it is now forbidden for any citizen to possess the equivalent of more than 10 000 euros and in foreign currencies.

The sudden drop of the national currency of iran against the dollar is “not natural,” says…

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