Inflation chaos in Iran, now a new note of 1 crore riyals in the pocket; But the value is only 650 rupees

• Consequences of the Iran War

• The largest note in the history of Iran

• The Iranian government issued a new 10 million Rial note

On Iran There is also a huge economic crisis at present. Due to the Iran-Israel war and the pressure brought by America, the situation of Iran is very bad. At present, inflation has reached a high point everywhere due to this. 10 million in the face of Iran’s deteriorating economic situation of Rial Of course, a new note of 10 million riyals has been issued. It is the largest note ever issued.

The move has been taken to combat rising inflation and cash crunch. These new notes have become available in banks this week. But do you know its Indian value? This shows that Iran’s economic situation has also deteriorated. Before that let us know the value of the note.

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Note value

Amazingly, this gigantic looking 1 crore Riyal note has an international value of just $7 (about Rs. 650). As soon as these notes came into circulation, long queues formed outside the banks. People feared that ATMs would run out of cash, and in many places it did.

Why did Iran have to issue new notes?

According to the Central Bank of Iran, the note was introduced to prevent people from facing cash shortages. The new pink note features the historic Jame Mosque in Yazd, while the reverse features the 2500-year-old Bam Fort. Previously, the 5 million riyal note in February was the largest, but has now been overtaken.

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Shortage of cash in banks

The value of Iran’s currency (Rial) continues to fall. US sanctions and continued tensions with Israel have led to attacks on Iran’s banks and infrastructure, causing the banking system to collapse. Despite the government’s assurances, banks are facing a cash crunch. The situation is that the banks are unable to provide the cash required by the customers. Too many people are being paid very little at a time.

Why did the economy go down?

• Iran’s economy was already in trouble
• Long-term US embargo
• Declining oil revenues
• Ever-increasing inflation
• Corruption

All these factors have led to a sharp decline in the value of Iran’s currency, the rial. After last year’s war, the value of the rial fell by almost 40%. Now, Iran’s issuance of new large notes indicates that inflation and cash shortages have become severe in the country.