{"id":30175,"date":"2021-12-08T08:31:59","date_gmt":"2021-12-08T07:31:59","guid":{"rendered":"https:\/\/iranfreedom.org\/en\/?p=30175"},"modified":"2021-12-08T08:32:00","modified_gmt":"2021-12-08T07:32:00","slug":"iranian-regime-to-blame-for-irans-economic-freefall","status":"publish","type":"post","link":"https:\/\/iranfreedom.org\/en\/articles\/2021\/12\/iranian-regime-to-blame-for-irans-economic-freefall\/30175\/","title":{"rendered":"Iranian Regime to Blame for Iran\u2019s Economic Freefall"},"content":{"rendered":"\n
\"Iran's
Iran\u2019s economy and the value of the national currency, the rial, are in free fall<\/sup><\/em><\/figcaption><\/figure>\n\n\n\n

As the working week began in Iran this week, currency exchange rates around the country caused great shock<\/a> as the price for one U.S. dollar shot up from 300,000 rials to 310,000 rials within just a few hours. The cause of the sudden drop in the value of rial is suspected to be the unsuccessful talks in Vienna that were an attempt to revive the 2015 Iran nuclear deal<\/a> with the Iranian regime.<\/p>\n\n\n\n

The People\u2019s Mojahedin Organization of Iran<\/a> (PMOI\/MEK) said<\/a>, \u201cThis is a fair argument, given that some had put their hopes that a breakthrough in the nuclear <\/a>impasse would open Iran to international markets, rekindling trade and economic growth.\u201d<\/p>\n\n\n\n

Going beyond the regime\u2019s questionable nuclear program, and the ongoing talks with Western powers, Iran is suffering from their worst economic crisis to date. The value of the rial over the past four decades paint a picture of a widespread decline of Iran\u2019s economy.<\/p>\n\n\n\n

When the Iranian regime came to power following the 1979 revolution, the price of a dollar was valued at 140 rials. Year after year that figure rose, reaching 1,420 just a decade later. By the turn of the century, each dollar was worth 7,920 rials, and by 2011 this figure had almost tripled. The sharpest rises have taken place in the past five years. At 36,000 rials in 2016, in just two years the exchange rate of a dollar skyrocketed to an astonishing 150,000 rials. As Ebrahim Raisi was sworn in as the regime\u2019s new president this August, the figure then sat at 230,000 before reaching its latest figure barely four months later.<\/p>\n\n\n\n

The MEK<\/a> said, \u201cTherefore, the root of Iran\u2019s currency depreciation cannot be sought in the Vienna talks, although the is one of many events that have spurred the decline of Iran\u2019s economy<\/a>.\u201d<\/p>\n\n\n\n

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