Iranian Currency Value Hits Record Low... Drops 15% After Anti-Government Protests

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] The value of Iran's currency has fallen to another all-time low.

On the 10th (local time) in the Iranian foreign exchange market, the trading rate was recorded at 372,000 rials per US dollar. Considering that the exchange rate was around 310,000 to 320,000 rials in September when large-scale anti-government protests were triggered, the currency value has dropped by about 15% in just over two months. The rial's value has fallen to its lowest level ever.

Major foreign media analyzed that the rial's value is declining amid intensified international isolation due to the military closeness between Russia and Iran, along with ongoing internal unrest in Iran.

The decline in the rial's value began in 2018 when former US President Donald Trump unilaterally withdrew from the nuclear agreement. Recently, the speed of the rial's depreciation has accelerated as anti-government protests, triggered by the Amini incident?where a woman was arrested by police for not properly wearing a hijab and died under suspicious circumstances?have continued for nearly three months.

The Human Rights Activists News Agency (HRANA) in Iran reported that as of the 3rd, 470 protest participants, including 64 minors, have lost their lives. It is known that about 18,000 protesters have been detained.

This content was produced with the assistance of AI translation services.