Tehran- After the Iranian Supreme Leader, Ayatollah Ali Khamenei, rejected negotiating with the United States in response to the return of US President Donald Trump to the policy of “maximum pressure” against Tehran, the Iranian currency fell to its lowest level against the US dollar on the eve of the 46th anniversary of the Iranian revolution.
Just hours before the start of “Bahman’s marches” throughout the Islamic Republic, the price of its national currency last night decreased to 940 thousand riyals per dollar on the black market, compared to 869 thousand and 500 Iranian riyals against the green currency last Friday, before Khamenei’s condemnation of Trump’s policy Tehran and its signature is a presidential decree aiming to whose oil exports.
The loss of the Iranian currency is a large part of its value since President Masoud Bouzshkian won the presidential summer presidencies, highlighting the story of the value of the national currency with the decades -decades’ inflation, the impact of foreign sanctions on the Iranian economy, and the ways that the Iranians are searching for to ensure the value of their savings in facing economic challenges in their country .
- What path has been taken by the Iranian currency since the victory of the 1979 revolution against foreign currencies?
The Iranian currency recorded the highest collapse against foreign currencies since the victory of the Islamic revolution that overthrew 1979 to the Pahlavi regime; The US dollar was then parallel to 70 riyals, until it was ranked by the American magazine “Forbes” in August 2023 as the weakest worldwide against the green currency, relying in its report the official exchange rate of Iranian riyal, which is much less than the parallel market prices.
After the victory of the Iranian revolution in 1979, its currency fell to 140 riyals per dollar during the interim government before it continued to decline in the first government after the establishment of the Islamic Republic, as the US dollar rose to 270 riyals in conjunction with the politician Mir Hussein Mousavi assumed the prime minister in 1980 until he touched the currency. Green is the last day of his second government about 1,200 riyals in 1988.
However, the Iranian currency continued the path of collapse after the period of the Iraq-Iran war (1988-1980) until it declined in the end of the second era of President Ali Akbar Hashemi Rafsanjani in 1997 by 4 thousand and 780 riyals per dollar, before it retreated to about 9 thousand riyals during the delivery of the former reformist President Sayed Muhammad Khatami, the reins of government, to his successor, Mahmoud Ahmadinejad, in 2005.
Because of the increasing foreign pressure on the Islamic Republic, especially after the protests of the Green Movement, which followed the re -election of Ahmadinejad as President of the country in 2009, the Iranian currency fell to 36 thousand riyals to the US dollar before handing over the reins of government in 2012 to the moderate President Hassan Rouhani, as the American currency reached 240 thousand And 950 riyals, the last days of the second term of President Rouhani in 2020.
During the era of the late President Ibrahim Raisi – who died in May 2024, accompanied by a number of members of his government after the helicopter that was carrying them in the eastern Azerbaijan governorate northwest of the country – the Iranian riyal was destroyed to 610,000 for one dollar, affected by the news of the accident before he recovered. Part of its value after the announcement of President Masoud Bouzshkian’s victory last summer, then the American currency was equal to about 590 thousand riyals.
- What are the reasons for the continuous decline in the value of the Iranian riyal for decades?
Hussein and Razi, the economist and former head of the Iranian Chamber of Commerce, attribute the main reason behind the volatility of the value of his country’s national currency and its continuous decline to political factors, especially the US sanctions imposed on the Iranian economy, adding that he cannot turn a blind eye to the successive Iranian governments failure to plan to advance the advancement With the national economy and the implementation of scheduled projects.
Speaking to Al -Jazeera Net, a weapon and a cherry are considered the decline in the value of his country’s national currency “natural” in light of the increasing budget deficit in the past years, the high expenses of successive governments and the decline in the country’s exports, which requires the printing of the riyal on the one hand and the reduction of the flow of hard currency into the country on the other hand.
The economic expert added that economic corruption stemming from the allocation of government -backed currency, government -backed with groups affiliated with some influential authorities to provide basic commodities, drains the country’s savings from the hard currency and increases the class rift in society.
Weapons and Razi explained that the economic situation in the country has produced new phenomena, including inflationary expectations, and the determination of housing and real estate prices in dollars and Bitcoin, as well as the home dollar, where the citizen is keen to buy quantities of hard currency and gold in search of safe havens to ensure the value of his savings in the face of official inflation.
- What is the authenticity of the reports classified as the Iranian riyal at the top of the list of the weakest currencies of the world?
The former president of the Iranian Chamber of Commerce believes that the description of the Iranian riyal as the weakest currency of the world is not accurate, noting that the Iranian currency has become among the weakest currencies in the world in light of the decades -decades -raising inflation during the past years.
The reform newspaper “Tadiz” was published in the summer of the last Iranian year (from March 21, 2023 to March 20, 2024), a report based on the data of the Research Center of the Iranian Parliament and wrote that the value of the Iranian riyal in 1929 was equivalent to 0.366 grams of gold, and with passing Time the price of a gram of gold rose from 3 riyals at the time to about 18 million riyals to March 2022; In other words, the value of the Iranian riyal, compared to gold, has declined about 6 million times, compared to the US dollar 16,000 times.
- How can the Iranian currency be strengthened and completely prevented?
In the opinion of the former president of the Iranian Chamber of Commerce, “it is necessary to diagnose the disease before the drug,” explaining that when many economic and political circles gathered that the sanctions are a major reason behind the economic crises in the country The return of oil exports to the country is hindered.
Weapons and Razi conclude that the Iranian economy needs a real surgery that addresses the budget deficit and plans to advance it by launching major national projects in the energy, industry and tourism sectors.
For his part, the professor of economics at the University of Tehran shares Bahman Arman what a weapon and a priest went to in the previous paragraph, adding that the Iranian riyal has become affected by international developments, especially the developments of tension between Tehran and Western capitals more than its dependence on the pillars of the national economy.
Speaking to Al -Jazeera Net, Arman urges his country’s authorities to neutralize the national economy from the accelerated political developments, attributing one of the reasons for the sharp decline in the value of the Iranian currency in the past few days to the experience of the Iranian people with the policy of maximum pressure practiced by US President Donald Trump against Tehran after his withdrawal from The nuclear agreement in 2018 during its first term.
- What awaits the value of the riyal in the coming months?
Arman dates back to the few months that followed President Masoud Bouchakian in the presidency of last summer, as the Iranian currency regained part of its value against the US dollar due to the slogans that he raised during his campaign and confirm his intention to negotiate with the United States to solve thorny issues between the two countries.
However, the Iranian public opinion was shocked when Trump, as he signed a presidential decree, stipulating the return of the policy of maximum pressure on Tehran and imposing new sanctions on Iranian oil exports, coinciding with his welcome to the option of negotiations with his Iranian counterpart.
He added that the value of the Iranian currency fell at a faster pace than it was before the Iranian authorities’ refusal to negotiate with Trump under pressure, stressing that as long as the battle of biting fingers communicate between Tehran and Washington, he does not hope to improve the value of the Iranian riyal.
- How will the policy of maximum pressure on the Iranian economy be sorry?
The Iranian academic excludes that the policy of maximum pressure leads to the whistle of Iranian oil exports in the coming years, explaining that Tehran has valuable experiences in facing and circumventing Western sanctions, and that it has formed special channels to introduce its returns in hard currency into the country.
He concluded by saying that his country had previously signed agreements with a number of friendly and allied countries to destroy goods, and liberalize their commercial exchanges from the US dollar and deal with national currencies, as it has strengthened its gold reserves in the past years, noting that the Iranian economy will face great difficulties that may vary intensity With security challenges.
