Ayatollahs desperately try to prevent the collapse of banks
Today the Iranian Rial reached a new low of 410,000 to 1 dollar in view of the ongoing onslaught of the Iranian public on the greenback.
Doron Peskin, Middle East Expert 26.12.2022
At the same time, the authorities are trying to prevent a collapse of the banking system due to the large withdrawal movement that began in recent days.
The Iranians are withdrawing the money from the banks and looking for alternatives that include the American currency (on the black market).
Due to the serious situation, the central bank in Tehran decided to jump the interest rate from 18% to 23% hoping that this will convince the Iranians to keep the money in deposits.
We will see in the coming days if this step has succeeded in anything.
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