The Iranian currency, the rial, fell today on the black market to an all-time low against the dollar. The exchange rate is considered a barometer of the Iranian economy and expresses the feeling among merchants.
Today one dollar is sold for about 374,000 rials. Yesterday the exchange rate was about 370,000 riyals to the dollar.
The explanation for the fall of the rial is related to the continuation of the wave of internal protests and the feeling that the chances of a nuclear agreement that will lead to a certain recovery of the Iranian economy are zero.
On the contrary, it seems that the traders anticipate increasing Western pressure on Iran due to the violent suppression of the protest and due to the military support for Russia in its war in Ukraine.