Monday, September 3, 2012

Crisis for Iranian Currency (Rials)

It is about one year that I am in Malaysia as a student. When I headed to Malaysia at Iran 1 USD worthed 16500 Iranian Rial (IRR). That time you could buy USD anywhere in this price. It was not good but was reasonable at least. With deteriorating Iranian Nuclear Case in UN and starting UN and US sanctions against Iran, everyday Iranian currency lose its worth more and more. With increasing US dollar worth, government to show all the things are usual and sanctions does not work against Iran and also in order to preventing increasing basic goods' price kept reference US dollar rate identical. However, buying USD with this price was impossible for ordinary people and especially students. They have to buy USD from black market with higher fee and this fee was increasing everyday and it fluctuated a lot in some period. 
Fluctuating Iranian Currency between 2011-2102 in front of USD

In other hand, for a long time passengers who wanted to travel abroad had a allowance to buy USD with governmental price. It was the only hope of many Iranian students who studied abroad to prepare their needs. That amount was not outstanding but they did not have any another choice. 2000$ for every passenger. However, after a while jabbers came and abused from this law. They booked for trip to some countries like Georgia, Armenia, UAE and Turkey to earn Dollar and sell it in black Market. Everyday the gap between IRR and USD was increasing and jabbers become more greedy. Government did not have any plan and instead to negotiate with world powers and solve the problem start to change the laws. At first they announced every passenger can get this allowance once in a year. Two month later national TV reported that these allowance will be different for different countries. Asian countries only 400$. And finally they removed this law and Parliament claimed that with removing this law we saved a lot of money which was escaping. None of them did not even think to Iranian students who study abroad and they need foreign currency.

After one year Iranian currency has lost half of its price and now 1 USD equals 2160 IRR. Price of most of goods in Iran has increased. Based on national news papers we had 40% inflation. What a awful economy and foreign policy. Now no one can dare to buy Iranian Oil and people around the world think we are very rich. Because they heard Iran has oil. Nevertheless, they do not know what a bad position we have now. Most of Iran's worth use for supporting US enemy by government and fighting with west. It is not ridiculous?! Every country should notice to its national benefits not others. Now Iranian neighbors are very happy because of our foolish policy and take advantage of it. Turkey sell a lot of gold to Iran. Pakistan wants free Oil and Gas from Iran. India pay its dept with its worthless Rupee and rubbish products. It really worth to be enemy of US and west without any reasonable reason and pay these expenditures? Iranian people does not have any problem with west and US. Even many of them love US people. 
Price of IRR in front of USD in recent weeks

As a student I should fasten my belt and make it firmer everyday. Having student life is difficult enough but we should tolerate this also. :(

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