As
of Monday (9/24) one US dollar was worth 24,600 Iranian Rials. This week it has
dropped 40% and one US dollar can get you 37,000 Rials. Iran’s president Mahmoud Ahmadinejad said the fall was
caused by dispute over their nuclear program, which has prevented them from
selling oil and transferring money. The citizens of Iran are not helping with
this economic crisis by frantically exchanging all their money into Euros or
Dollars. After pleading for help from the world powers and having no success,
Iran stated they would keep working on their uranium purifying program, and if
no help comes their way then they would make the uranium close to bomb-grade
material.
My
thoughts on this are that there are two options that can occur. If this does
not come to a conclusion in a few weeks then they will either have a boost in
their economy from a new source of income (unlikely but plausible), such as
selling uranium, or receiving economic help through negotiations with other
countries.
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