Returning to Trump’s Policy of Economic Pressure on Iran Imposed as the Dollar Surpasses 85,000 Rials
The reinstatement of Donald Trump’s stringent economic policies towards Iran has notably impacted the nation’s currency market, with the US dollar now exceeding 85,000 Iranian rials.
A market analyst commented, “Each time Trump raises the specter of conflict with Iran, we can expect fluctuations in the dollar’s value. While I find it remarkable that Trump’s rhetoric seems to influence the dollar’s value, I anticipate a decline in the dollar following these statements.”
The analyst emphasized the need for the Iranian government to prioritize diplomatic relationships, stating, “For the benefit of our citizens, we must strive to maintain a balance, ensuring amicable relations with neighboring countries and the international community to avoid becoming adversaries.”
On Tuesday evening, US President Donald Trump signed an executive order reinforcing a policy aimed at increasing economic pressure on Iran. This move is projected to result in a significant decline in the nation’s oil exports, potentially limiting them by over 1 million barrels per day.
According to the latest data from Nafsan, the exchange rate for the dollar fell by 1,000 rials in a single day, highlighting the currency’s ongoing volatility.
Another Iranian resident based in Tehran, Nuri, voiced a sentiment shared by many, suggesting that the core challenges facing Iran are largely domestic. “We must rely on our own capabilities to address these issues,” he stated.
Since the withdrawal from the Iran nuclear deal in 2018, the depreciation of the Iranian currency has accelerated. In 2018, the dollar was valued at approximately 3,000 rials, but projections indicate it could reach 100,000 rials by the next spring.
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| Year | Dollar Value (Rials) |
|---|---|
| 2018 | 3,000 |
| Expected by Spring 2024 | 100,000 |