Expert Probes Impact of Sanctions on Iran’s Economy

Besides the increase in money supply, monetary base and inflation, sanctions have played a key role in the volatility of foreign exchange rates in Iran’s economy, Hadi Haqshenas, an economic expert, said in a write-up for Persian daily Ta’adol. A translation of the text follows:
We need to accept that the depreciation of local currency is not a new problem; this trend has been present in the Iranian economy for the past three decades. When did these currency shocks increase and when did they occur more frequently? 
During the years ending March 2013 and March 2014, when the economic sanctions against Iran intensified, the economy faced back-to-back depreciations in local currency.