Sunday, December 18, 2011

Iran Currency Continues Losing Value Against Dollar, Gold - UPDATE

The value of the Iranian currency rial continued its decline and ended the day at 13,850 rials per US dollar, a historic low. The rial has lost 28% of its value against dollar in the past 12 months, and nearly 50% of its value during the six years of Ahmadinejad’s presidency.

In a related development, the price of the country’s official gold coin Bahar-e Azadi (“Spring of Liberty”), weighting 8.133 grams, rose to 5,980,000 rials, a historic high. Bahar-e Azadi was worth 3,120,000 rials a year ago, a 92% increase in value against rial in one year.

UPDATE: The rial sank to a new historic low of 14,000 rials per dollar on Sunday 18 December.


Anonymous said...

All those Islamic drones can drone as much as they like but the reality is that Iran's economy is in a spiral going downwards.

Anonymous said...

Bahar-e-Azadi ("Spring of Liberty")
What Liberty only mullahs have liberty to arrest torture rape kill and steal all in the name of Allah.

Anonymous said...

Irqnian Currency declines is a repeated news, printed 2-3 Times per month by Uskowi.

The currency Decline is result of Manipulation of Currency market by
the Bazari.
The Goverment and Central Bank donot want to intervene, because it is very cost-intensive to flood market with Petro $.
let the finger from a manipulative market.
It is not job of Government to provide the pople $.

Nader Uskowi said...

A continued decline of the currency for six straight years to the tune of 50%, and 28% just in one single year, is not the result of manipulation, but a clear manifestation of a sick economy. Whenever the currency hits historic lows (or highs for that matter), we will cover it, even if that happens 2-3 times per month!

Anonymous said...

These people don't want to read or hear the reality about what is truly happening in Iran and its economy.
They dream about the Islamic paradise of Iran wonderland where bad is good and worse is better.
But don't worry we will have the last laugh.

Anonymous said...

Anon 4:46 PM

But don't worry we will have the last laugh.

No, we will have the last laugh when the Iranian currency recover its natural value.

The value of rial can't stay low forever.

Anonymous said...

Anon 3:31 PM

The Rial will only reach its true value when this Islamic regime is history and then we shall see who has the last laugh.

Anonymous said...

thanks nice post