Posted on 12/26/2016 10:36:16 AM PST by Brad from Tennessee
Iran's rial hit a record low against the U.S. dollar on Monday in a sign of concern about the country's ability to attract foreign money after U.S. president-elect Donald Trump takes office.
The rial was quoted in the free market at 41,500 to the dollar, weakening from around 41,250 on Sunday and 35,570 in mid-September. Before this month, the record low was about 40,000, hit in late 2012, traders said.
Economists said there were several reasons for the slide, including the dollar's strength against many currencies in the last few weeks, and uncertainty before next year's presidential elections in Iran.
But they said Trump's election in November was a major factor. He has said he will scrap the deal between Iran and world powers that imposed curbs on Tehran's nuclear projects and lifted sanctions on the Iranian economy in January this year.
This would hinder Tehran's efforts to attract tens of billions of dollars of foreign funds to help modernize its economy. Inflows since January have been smaller than the government expected, partly because big international banks fear running into U.S. legal trouble if they deal with Iran. . .
(Excerpt) Read more at reuters.com ...
Interesting. Thank God Hillary who would prob follow in Obama’s footsteps did not get elected.
Follow the money.
So, they already spent all their Obamacash?
Do I hear 80,000 by next year? I think I do. 8>)
that’s too bad. I’m going to have trouble sleeping knowing the iranians are suffering
Not even in office yet and he’s done more damage to the Mullahs in Iran in 8 weeks than Barry and ValJar Binks did in 8 years.
It’s looking like the next 8 years are going to be a great time to be an American.
I had no idea how much the exchange rate changed since I was there. Feb 1973 1 USD=68.888644 IRR
WOW! Should we have not paid them back in Rials instead of dollars?
The man gets things done just by being DJT. Yowzah!
What a shame. /s
It is going to be so refreshing. No apology tour..., just pure American strength.
That’s why they are bitching about paying Boeing for the airplanes.
Currency devaluation is driving the cost through the roof.
He is not even sworn in yet! Imagine what the next four and possible eight years are going to bring.
He hasn’t taken the oath of office yet and he is already having a positive effect on the international stage.
With Iran’s currency on the rocks and its dissidents feeling hopeful, Trump needs to keep the momentum and push hard. Iran may be vulnerable to total collapse.
Good. Less money with which to build nukes.
You mean, oil reserves do not equal wealth? Whew.
Hussein Obama, America's FIRST PRO-Muslim President, will have trouble sleeping too. Bill Clinton gave North Korea the bomb in his deals with the NK terrorists.
Hussein Obama was trying to give Iran the same deal only better.
It's what Muslims and Demorats do. They lie and deal behind the scene.
Iran will come around and get in line to negotiate in good faith with Trump.
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