US Dollar Gains as Rial Crisis Continues in Iran

US Dollar Gains as Rial Crisis Continues in Iran

Only after a few days from Ahmadinejad’s speech in state television channel, U.S. Dollar hit an historical mark against Iranian Rial.

Today U.S. Dollar traded for 24,500 Rials in Tehran’s market but even it reached the number of 25,500.

Currently the official rate of Dollar versus Rial set by Central Bank of Iran is only 12,260 Rials but the market’s rate is more than 24,500 Rials which shows a big gap.

Central Bank chief Mahmoud Bahmani is utterly unable to control the situation and only in his spell the price of Dollar against Rial increased by more than %35.

Two years ago at the same time the official and unofficial Dollar rate was less than 12,000 Rials. The current crisis is admitted by President Mahmoud Ahmadinejad and he think it is because of the United States financial sanctions against Iran over its nuclear program. United States and its European allies believe Iran is developing nuclear weapon but Iran denies these claims and says it is going to use nuclear power for peaceful intentions.




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