From Financial Modeling Prep: 2024-12-15 13:29:44

The Iranian rial has hit a record low of 756,000 rials per U.S. dollar on the unofficial market, indicating ongoing economic challenges and geopolitical risks.

Factors contributing to the decline include fears of Trump’s return to power and the reinstatement of harsh sanctions, along with rising tensions over Iran’s nuclear program.

Inflation and capital flight have also played a role, with a 35% official inflation rate leading citizens to seek safer assets like U.S. dollars, gold, and cryptocurrencies.

Iran’s economy is struggling with sanctions, political instability, and inflation, leading many to turn to more stable financial instruments like foreign currencies.

Monitoring exchange rate data through resources like the Forex API can provide insights into currency movements and potential trends amid Iran’s economic challenges.



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