Iranian currency hits record low and depreciates 45% in three months

By: News Team

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Iranian currency hits record low and depreciates 45% in three months

The Iranian currency set a new record low against the US dollar on Sunday. This is a 45 percent drop from mid-September, when protests erupted in the country.

The exchange rate of the dollar, which until last September on the free market was equivalent to about 283,000 IRR, today has been about 41,000 IRR.

Economy Minister Ehsan Janduzi appeared before parliament today to explain the government’s policies on the currency issue and explained that until the end of September the executive controlled the foreign exchange market very well and that the problems began from that date, the local Iranian news agency ISNA reported.

Janduzi also said that “enemies seek to transfer the riots to the country’s banks,” apparently referring to a protest campaign that calls on people to withdraw their money from banks.

“In the coming weeks we will see the return of stability in this area,” Janduzi said.

During the open session of Parliament, MEPs voiced their criticism. A deputy named Kazem Deljosh, indicated that “talking behind the podium will not solve the problem of the foreign exchange market, and with the continuation of the current policy of the Central Bank, it is not clear what will happen to the people until the end of the year” Iranian, which begins on March 20.

Protests in Iran began in mid-September following the death in police custody of a 22-year-old Kurdish woman who had been detained for wearing the Islamic headscarf.

In the more than three months of protests, more than 400 people have died and at least 2,000 have been accused of various crimes for their participation in the mobilizations, of which 2 have been executed in the month of December.

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