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The exchange rate of the Rial falling, the Iranians are protesting

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In Iran broke out to protest, the reason for which was a sharp depreciation of the local currency, the Rial. On the streets of Tehran left several thousand people. The initiators of the demonstrations were the owners of small shops.

For one dollar on the black market, Iran is now give 87 thousand rials at the official rate of 42 thousand rials per dollar.

In Iran broke out to protest, the reason for which was a sharp depreciation of the local currency, the Rial. On the streets of Tehran left several thousand people. The initiators of the demonstrations were the owners of small shops.

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For one dollar on the black market, Iran is now give 87 thousand rials at the official rate of 42 thousand rials per dollar.

 

On Monday the authorities of the Islamic Republic announced a ban on imports of more than 1,300 foreign goods. Thus, experts say that the country’s leadership hoped to minimize the damage that may be caused to the economy of Iran if Washington will keep the promise and restore the sanctions.

In may, the US withdrew from the Tehran nuclear deal. American President Donald trump said that the US will impose sanctions on Iran a “higher level”.

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Two years ago, Washington has repealed the restrictive measures after Iran has fulfilled its side of the agreement. After that, the country was able to increase production and export of oil, which is bound to affect GDP growth. In may, Iran has exported 2.8 million barrels of oil per day. But in the last month things started to change for the worse. Several major oil companies have already stated that can cut oil imports from Iran.

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