The value of the Iranian rial is returning despite tightening sanctions

The value of the Iranian rial is returning despite tightening sanctions

Bloomberg, citing a 5 percent increase in the value of Iran’s national currency in recent months, wrote that despite the tightening of US sanctions and some steps by Iran to maintain foreign exchange reserves and launch a foreign exchange system, the national currency situation is improving. Has left.

The central bank’s chief executive has said the national currency has risen 40 percent since last year and has been able to escape its historic decline after the US withdraws from the nuclear deal and the imposition of sanctions.

Abdul Nasser Hemmati said that despite sanctions that have revived the value of the national currency over the past 12 months, inflation has stabilized and Iran’s economy has grown.

According to the report, after the US president said he would withdraw his country from the nuclear deal, called the Brajam, Iran’s rial on the free market fell.

The loss of oil revenues, Iran’s main source of foreign currency access, hit Iran’s foreign exchange resources, fueling inflation and a shortage of some imported goods.

But in recent months, following a series of steps by Iran to maintain foreign exchange reserves and launch a foreign exchange swap system to facilitate supply, the national currency has improved.

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