horrific The currency Rial of Iran, an Islamic country which is struggling with internal unrest, is continuing its steep decline. The Iranian currency fell to a record low of 1.6 million rials per dollar on Wednesday. Local currency traders of Iran gave this information. A day before this, on Tuesday, the Riyal had slipped to the level of 1.5 million per dollar for the first time. This sharp fall in the Riyal is being seen at a time when one month has passed since the nationwide protests that started in Iran over the economic crisis.
Protests started in Iran on 28 December
These demonstrations in Iran started on December 28 in protest against the huge fall in the value of the Rial and soon spread rapidly to different parts of the country. Shopkeepers in the Grand Bazaar of the capital Tehran closed their shops in protest against the falling value of the riyal, high inflation and the government’s decision to end subsidies on some food items and fuel, and massive protests were held against the government.
Thousands of people have died in the unrest so far
The government of Iran has taken strict action against these protests. The country has also had to face internet ban for more than two weeks. Human rights activists claim that at least 6221 people have died so far in this government action against the protesters. On the other hand, the Iranian government said that at least 3117 people have been killed in the unrest, of which 2427 were civilians and security forces and the rest were terrorists.
Donald Trump’s threat also weakened the Rial
Apart from the ongoing large-scale protests in Iran, US President Donald Trump’s threat of military action against Iran has also played a big role in the fall in the value of the country’s currency Rial. Iran’s newly appointed Central Bank Governor Abdolnasser Hemmati said on Tuesday that “the foreign exchange market is following its normal path.”
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