Iran's Money Woes Deepen

The Iranian rial has hit a new low, with one U. S. dollar now worth over a million rials. This drop happened as the country returned to work after a holiday. The exchange rate had already been falling during the Persian New Year, but it fell even further when trading resumed. In Tehran, some traders turned off their exchange rate signs because they were unsure how much lower the rial would go. The rial's value has been dropping for a while. In 2015, one dollar was worth about 32, 000 rials. But things changed when the U. S. pulled out of a nuclear deal with Iran in 2018. This move led to more sanctions, which hurt Iran's economy. Things got worse when the U. S. restarted its "maximum pressure" campaign against Iran. This campaign included sanctions on companies selling Iranian oil, even at a discount. The falling rial is causing problems for ordinary Iranians. Many are holding onto hard currencies, gold, or other valuable items. Some are even trying to make quick money through risky schemes. The economic pressure is also causing political tension. There have been protests over the mandatory hijab law and rumors about increasing gasoline prices. The falling rial is also putting pressure on Iran's president. In March, when the exchange rate was 930, 000 rials to the dollar, Iran's parliament removed the finance minister. The president also fired a vice president for taking a luxury cruise to Antarctica. This angered many Iranians who are struggling to make ends meet. The president has been criticizing the U. S. for its behavior. He has said that Iran wants to talk to the U. S. from an equal position. He has also said that the U. S. is humiliating not just Iran, but the whole world. The falling rial is a sign of the economic problems facing Iran. It is also a sign of the political tensions within the country. The future of the rial and the Iranian economy depends on many factors. One of them is the relationship between Iran and the U. S. Another is the internal political situation in Iran.