Source: Al Jazeera News
By Ted Regencia
At the end of a tumultuous week, marked by a currency crunch and rare protests by vendors in Tehran, economists are urging Iran’s President Hassan Rouhani to take decisive steps to deal with the country’s pressing economic challenges.
On Tuesday, Iran’s exchange rate hit 79,000 rials to a US dollar on the black market – up at least 110 percent from the same period last year.
A convergence of factors, including the uncertainty over the survival of the nuclear deal in the wake of Washington’s withdrawal and the return of US sanctions, as well as fading consumer sentiment and soaring prices of imported goods have contributed to the turmoil, experts said.
Categories: Asia, Economy, Iran, Politics, The Muslim Times