Rial's dive continues

Iran's currency hits new record low against dollar

BBC: Iran's national currency fell by 11 percent Saturday amid the government's refusal to sign off on a move to raise bank interest rates, state news agencies reported. The semiofficial Fars news agency said the the country's currency, the rial, was trading at nearly 20,000 to the U.S. dollar on Saturday on the black market, compared to 18,000 rials a day earlier. The rial was trading at around 10,500 riyals to the U.S. dollar in late December 2010 >>>


from Ghormeh Sabzi
22-Jan-2012
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Rastgoo

May be just may be

by Rastgoo on Sun Jan 22, 2012 05:00 PM PST

There is no question that this is due to the sanctions and the ensuing insecurity in Iran.  If I lived there and had money in the bank I'd be running to gold or dollars too.  May be just may be this will tip the balance against the regime.  Sanctions against South Africa worked in the 80s.  But sanctions against Iraq just starved its people and led to an estimated 600,000 dead.  Let's hope that Iran won't be the same way.  And I don't think it will ever get as bad as Iraq.  In fact I look forward to a probable coup by some more patriotic elements of the IRIG that will lead to the dismantling of the clerical rule.  After that let's just hope that the soldiers would go away.  If they don't, don't fret, its a lot easier to get rid of them by a popular revolt since they can't take advantage of the common folk's religious beliefs.


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Fatollah

BBC

by Fatollah on Sun Jan 22, 2012 04:16 PM PST

is worried about the well beings of Iranians!!!


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