RFL/RE – President Hassan Rohani has reassured Iranians that his government will offset the economic pressure of upcoming U.S. sanctions, a day after protests fueled by concern over a sharp fall in the value of the country’s currency. In a speech broadcast live on state television on June 26, Rohani said that government revenues had not decreased in recent months, …
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Will Iran’s economy collapse?
Al-Monitor – Turbulent developments in the past few months on the foreign exchange and gold markets in Iran and the government’s failure to manage runaway prices has compelled some economists to start using the term “bubble economy.” The interrelationship among various markets within the country’s economy was explained in a June 14 Al-Monitor piece. In this article, however, we will …
Read More »Rouhani under fire amid second day of protests in Iran
AL-Monitor – As the unofficial exchange rate in Iran hit a record 90,000 rials to the dollar June 24, a second day of protests erupted in Iran. On June 24, shopkeepers selling cellphones and computer equipment at two main malls in Iran went on strike over the sudden increase in the unofficial rate — until recently, the black-market, unofficial exchange …
Read More »Iran to create 2nd currency market to ease dollar fever
Payvandnews – The Central Bank of Iran (CBI) says it plans to create what it has described as a secondary currency market to help ease tensions that plunged the rial against the US dollar to a record low level on Sunday. CBI chief Valiollah Seif told reporters on Monday that the secondary currency market would be dedicated to selling US …
Read More »Iran Protesters Confront Police At Parliament
Radiofarda – Police in Tehran have fired tear-gas at a crowd of protesters who marched to the Iranian parliament on June 25 after swarming the city’s historic Grand Bazaar in anger over the country’s troubled economy.
Read More »Tehran’s Grand Bazaar Goes On Strike As Iran’s Economic Crisis Worsens
Radiofarda – Store owners at Tehran’s Grand Bazaar closed their shops Monday morning, June 25, in protest to the dramatic rise in the rate of exchange of foreign currencies that have adversely affected the market and made prices unaffordable for buyers.
Read More »WATCH: Hundreds protest failed economic policies in Tehran as Iran riyal plunges
Al-Arabia – Videos have surfaced across social media showing hundreds of protesters in Iran’s Tehran Bazaar on Monday, chanting slogans condemning the government’s failed economic policies.
Read More »Dollar Hits A New High On Iran’s Black Market
Radiofarda – Based on the latest reports from Tehran, the value of each U.S. dollar climbed to 80,000 Iranian rials on Saturday, the first day of the week in Iran.
Read More »Iran’s calendar in dire need of reform
Al-Monitor – Last month, Iran’s education minister said he intends to create a two-week “winter holiday”before the new Iranian school year starts this fall. In exchange, students will start their academic year two weeks earlier. The goal is to create a new holiday period that could boost local tourism at a time of year when business is usually slow.
Read More »Iran Walks Out As Russia, Saudis Gain Support For Oil Output Increase
RFL/RE – Iran’s oil minister has walked away from negotiations with other major oil producers over a significant increase in oil production advocated by Russia and Tehran’s archrival, Saudi Arabia.
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