Domestic Economy

Rial Devaluation Lifts Iran's Trade Balance

Iran saw a trade surplus of about $940 million during March 21-Sept. 22, which is especially significant since Iran had witnessed a trade deficit of $472 million last year
Rial Devaluation Lifts Iran's Trade Balance
Rial Devaluation Lifts Iran's Trade Balance

Much as the Iranian national currency's steep devaluation in recent months gave rise to challenges, it has also provided a boost to the country's trade balance on the back of surging exports and dwindling imports.
Before May, when US President Donald Trump was expected to withdraw from Iran's nuclear deal with world powers, the rial started losing value against other currencies due to the psychological perception of worsening conditions. 
The national currency lost about 75% of its value and reached an all-time low of 190,000 against the US dollar in late September. It has since regained some lost ground thanks to government intervention and now stands at about 140,000 against the American greenback.


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