Published: Tue, April 10, 2018

Three Iranians killed in Syrian airbase Israeli airstrike

Three Iranians killed in Syrian airbase Israeli airstrike

"If the U.S. exits the agreement, the Iranian currency could collapse even further and reach 70,000 to the dollar", said the exchange dealer.

Many businesses were forced to halt work amid the uncertainty created over prices and the availability of imported materials. The countries aimed to improve economic links and make bilateral trade easier, as well as getting rid of the USA dollar and the euro.

Iran's police shut down several currency exchange shops and arrested a number of money changers after a serious turmoil in exchange rates.

"Political pressure coming from the Americans is one of the factors", an anonymous source told Bloomberg.

Iran has long had trouble managing its currency market.

Russian Foreign Minister Sergei Lavrov said that Russian specialists had found no trace of a chemical attack on the Syrian rebel-held town of Douma, after allegations from the worldwide community. Authorities arrested scores of traders whom it blamed for deliberately driving the devaluation in order to profit from it. But these measures have not been able to stop the rial's slide downwards. "Islamic Republic News Agency (IRNA) quoted him as saying on April 4: "[It is] causing political, security and societal problems".

Last year, the central banks of Iran and Turkey signed an agreement on using local currencies in trade.

Without mentioning the U.S., he said other parties to the deal are "instigating Iran" to break its commitment to the agreement. Nevertheless, the E3, along with China and Russian Federation, are insistent Iran has abided by the JCPOA and are not at all in favour of scrapping it.

US President Donald Trump has threatened to walk away from the nuclear deal and reimpose sanctions by May 12 unless tough new restrictions are imposed on Iran's nuclear and missile programmes.

Fararu news website said in a report that the public were increasingly anxious about the status of the USA dollar in the market, adding that a weaker Rial would affect the lives of Iranians over the next months.

"This is a very complicated question in political terms and needs extensive analysis..."

Like this: