The Iranian currency rial continued loosing value against US dollar and finished the day at 13,070 rials per dollar, a historic low. Since Ahmadinejad has become president, the rial has lost more than 40% of its value against dollar.
But nader, this type of topic and discussion is a bit out of context if we don't talk about the actual value of the US dollar.The fact is that the US dollar is tied to nothing,it has been over printed, and the US uses its superpower status to influence its actual worth in international markets. Check the buying power of the US dollar since 200 and u find out it has tanked. all the bailouts are all printed money backed by nothing.Tell me what the dollar is really worth today, then i can understand better how the rial is doing.Have u checked out gold and silver prices? people say they are high now, but they have always been "high" but keep increasing!
---"Iranians generally think of the green 10,000 rial note as worth $1, but while the central bank’s official dollar rate is 10,720 rials, the dollar commands 20 percent more in the open market and sometimes goes above 13,000 rials."
4 comments:
But nader, this type of topic and discussion is a bit out of context if we don't talk about the actual value of the US dollar.The fact is that the US dollar is tied to nothing,it has been over printed, and the US uses its superpower status to influence its actual worth in international markets. Check the buying power of the US dollar since 200 and u find out it has tanked. all the bailouts are all printed money backed by nothing.Tell me what the dollar is really worth today, then i can understand better how the rial is doing.Have u checked out gold and silver prices? people say they are high now, but they have always been "high" but keep increasing!
You are a damn liar. Where is your source for these exchange rates? They are not listed on Iran's central bank nor any iranian private bank.
Now censor this comment like the disreputable and lying coward that you are.
Anon 12:59
you owe an apology.
Daily Star Oct 27
---"Iranians generally think of the green 10,000 rial note as worth $1, but while the central bank’s official dollar rate is 10,720 rials, the dollar commands 20 percent more in the open market and sometimes goes above 13,000 rials."
http://www.dailystar.com.lb/Business/Middle-East/2011/Oct-27/152315-iran-leaders-split-over-policy-as-inflation-pressure-grows.ashx#axzz1cWkteSIZ
Not only the rial is at a historic low but also Iran is at a historic low.
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