{"id":19136,"date":"2015-09-17T08:36:53","date_gmt":"2015-09-17T07:36:53","guid":{"rendered":"https:\/\/www.ncr-iran.org\/en\/blog\/19136-another-plunge-in-iran-s-rial"},"modified":"2023-01-15T13:30:11","modified_gmt":"2023-01-15T12:30:11","slug":"another-plunge-in-iran-s-rial","status":"publish","type":"post","link":"https:\/\/www.ncr-iran.org\/en\/blog\/another-plunge-in-iran-s-rial\/","title":{"rendered":"Another plunge in Iran\u2019s Rial"},"content":{"rendered":"<p><strong><img decoding=\"async\" title=\"sanabargh-zahedi-100\" class=\" alignleft size-full wp-image-44091\" style=\"float: left;margin: 5px\" src=\"https:\/\/www.ncr-iran.org\/en\/wp-content\/uploads\/sites\/2\/2015\/09\/sanabargh-zahedi-100.jpg\" width=\"100\" height=\"120\" \/>By Dr. Sanabargh Zahedi<\/strong><\/p>\n<p>In Tehran on Monday, the value of Iran\u2019s official currency, the Rial, took yet another dive, standing at 35000 rials for each U.S. dollar. Two years ago, it stood at 29000 rials to the dollar.<\/p>\n<p>The fall in the currency value is an important indicator of the fragile state of Iran\u2019s economy and illustrates the Rouhani government inability to improve the country\u2019s economic conditions.<\/p>\n<p>The state-run Fars news agency reported that this is the highest value for the dollar in the past two years.<\/p>\n<p>The nuclear deal between Iran\u2019s regime and the six world powers on July 14 resulted in a reduction in the price of foreign currency and gold to some extent, but only a few days later the Rial again lost its value against foreign currencies.<\/p>\n<p>There were expectations that following the nuclear deal the economy would improve but reports indicate that severe stagnation still hurts the economy.<\/p>\n<p>Mohammad Bagher Nobakht, head of the regime\u2019s Management and Planning Organization, recently stated that Iran\u2019s budget deficit has reached 50% for this year.<\/p>\n<p>The director of exports of Iran\u2019s Central Bank has stated that \u201cincrease in real demand, increase in delayed payments, plunge in oil prices, increase of trade in unofficial markets, and waning of market excitements\u201d are among the causes for an increase in the value of foreign currencies.<\/p>\n<p>The price of Iranian oil was estimated at $70 a barrel when Hassan Rouhani\u2019s administration set this year\u2019s budget; but oil prices now stand at $40 a barrel.<\/p>\n<p>Nevertheless, analysts of the Iranian economy believe that even without a drop in oil prices, it was unimaginable for Iran\u2019s economy to rebound from bankruptcy. The expenses of the war in Syria and Tehran\u2019s backing of the Houthis in Yemen and the militias affiliated with the Quds Force in Iraq, as well as the billions spent each year on the nuclear weapons projects are burdening the Iranian economy and depriving the country of internal investments.<\/p>\n<p>Most importantly, the entirety of Iran\u2019s economy is suffering from institutionalized corruption and a monopoly by organs affiliated to the regime\u2019s Supreme Leader Ali Khamenei, in particular the Islamic Revolutionary Guards Corps (IRGC).<\/p>\n<p>Dr. Sanabargh Zahedi, Chairman of the Judicial Committee of the\u00a0<a href=\"https:\/\/plus.google.com\/104076275379213468454\/posts\" target=\"_blank\" rel=\"alternate noopener noreferrer\">National Council of Resistance of Iran (NCRI)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Dr. Sanabargh Zahedi In Tehran on Monday, the value of Iran&rsquo;s official currency, the Rial, took yet another dive, standing at 35000 rials for each U.S. dollar. Two years [&#8230;]<\/p>\n","protected":false},"author":11,"featured_media":44091,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[71],"tags":[175],"class_list":["post-19136","post","type-post","status-publish","format-standard","has-post-thumbnail","category-blog","tag-updated"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Another plunge in Iran\u2019s Rial - NCRI<\/title>\n<meta name=\"description\" content=\"By Dr. Sanabargh Zahedi In Tehran on Monday, the value of Iran\u2019s official currency, the Rial, took yet another dive, standing at 35000 rials for each U.S.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ncr-iran.org\/en\/blog\/another-plunge-in-iran-s-rial\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Another plunge in Iran\u2019s Rial - 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