Iran refuses to recognise national currency’s fall in free markets
Iran’s national currency has dropped about 13% since early January this year, having steadily declined ever since the start of the Israel-Hamas war. As of mid-February, one US dollar was worth about 570,000 rials (€12.51). Back on 29 January this year, the rial had hit an 11-month low, with one dollar being worth about 582,500 rials. However, despite this sustained and very glaring devaluation, it looks like Iran may be more comfortable burying its head in the sand when it comes to global currency rates. The Minister of Economic Affairs and Finance, as reported by Iran International, recently ...