Domestic Economy

Where Will Rial’s Depreciation End?

Where Will Rial’s Depreciation End?
Where Will Rial’s Depreciation End?

How much more is the local currency going to lose its value? This is a question weighing on Iranians’ minds these days. There is a crying need to know the response, we are approaching the end of the year [the Iranian year begins and ends late March] and markets are expected to change ever more. Government officials and the head of the central bank have yet to introduce a proper economic strategy to deal with the currency downtrend. Why is the economy and foreign exchange market in this poor state? Morteza Afqeh, an economist, prefaced his write-up for the Persian daily Etemad with this question. A translation of the text follows:
The most important strategy to overcome the current economic challenges is to end the sanctions by reviving the Joint Comprehensive Plan of Action [the formal name of the nuclear deal Iran signed with world powers in 2015]. 


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