Iranian currency at historic low – why are extremists happy?
On the first day of the resumption of trading in the Persian New Year today, the Iranian rial exchange rate fell to an unprecedented low on the free (black) market – over a million (or 100,000 tomans) for 1 dollar.
Doron Peskin, Middle East Expert 26.03.2025
This is a psychological barrier and I will expand on the implications in another article. The strengthening of the dollar indicates the fear in Iran of a possible American attack or increased sanctions.
Despite this, those who celebrated this low were the ultra-conservative camp in Iran.
The newspaper that reflects the positions of this stream, “Kayhan,” published in its headline the news that a dollar is currently worth over a million rials (1,020,500, to be precise).
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