As Iran grapples with multiple economic crises, the sharp depreciation of its national currency and soaring exchange rates have heightened public and expert concerns. The state-run news site “Baharnnews” criticized the regime’s president Masoud Pezeshkian’s administration, stating, “Mr. Pezeshkian! Plainly and without any formality—many people have reached the final stage of poverty.”
According to “Baharnnews,” when Pezeshkian took office, one US dollar was worth approximately 59,000 tomans. Today, that figure has risen to over 92,000 tomans. The outlet further emphasized, “The free fall of the national currency and the silence of your administration on this national catastrophe are unacceptable.”
Economic analyst Hossein Raghfar warned in an interview with “Didban Iran” that “the dollar will surpass 110,000 tomans,” adding that the system must choose “between its survival or the interests of the economic mafias.” He elaborated that “the Central Bank and the Ministry of Economy cannot control the rising exchange rate because powerful interest groups and economic cartels effectively dominate the economy.”
#IranProtests Intensify Amid Power Outages and Economic Crisishttps://t.co/RFmfESmKql
— NCRI-FAC (@iran_policy) February 13, 2025
Raghfar also criticized the government’s allocation of financial resources, stating, “While people struggle with economic hardship, billions of dollars are being spent on importing gold and second-hand cars—none of which are national priorities.”
Experts argue that the rapid devaluation of the national currency will lead to inflation, a decline in purchasing power, and an increase in poverty. In an article for “Asr Iran,” journalist Jafar Mohammadi wrote, “Iranians are becoming poorer. Many citizens are now at a stage where they have nothing left to cut from their expenses.”
He added, “People cannot go to sleep and wake up the next morning only to find themselves poorer, not just once but repeatedly, over and over again!” Mohammadi warned that “this breaking point marks the beginning of a serious crisis that threatens not only the people but also the entire governance system.”
Regime’s Fear Mounts as #Iranian Officials Warn of Economic Collapse and Public Outragehttps://t.co/eYd3ctUroe
— NCRI-FAC (@iran_policy) November 24, 2024
Critics of the government argue that transparency and responsiveness from officials could help mitigate some of the public’s concerns. Raghfar stressed that “the administration’s lack of clarity on the causes of rising exchange rates and its silence on policy measures to control it have worsened the crisis.”
He also stated, “National interests have been sacrificed for the benefit of oligarchs,” warning that if the government fails to implement effective strategies, it will also have to bear the “political consequences” of the crisis.
Given the current trajectory, experts predict that the dollar will soon exceed the 100,000-toman mark, with some analysts warning that the situation may spiral further out of control. Ultimately, while Pezeshkian’s administration faces major challenges—including economic turmoil, domestic pressures, and international developments—its failure to address the plummeting rial could fuel further public dissatisfaction and push the country toward an even deeper crisis.