Your 100 rupees are worth 12 lakhs in Iran… How much has the currency of Khamenei’s country fallen?

What if the money you have has no value left? The same thing has happened with the people of Iran and this is the main reason for the protests taking place there. Today, Iran’s currency Rial has no value in most of the countries of America and Europe. This means that even if you reach here with a truckload of riyals, it will still be just a piece of paper.

Iran’s Rial has become so weak that shopkeepers in the market of Tehran started protesting against the government. The protests against the government, which started in Tehran on December 28, have now spread to more than 100 cities. It has been more than two weeks but the protests are showing no sign of stopping.

The Iranian government and its Supreme Leader Ayatollah Ali Khamenei are alleging that America and Israel are instigating these demonstrations. The government of Iran is compared to the protesters ‘rioters‘ And ‘terrorists‘ Is doing since. So far, more than two and a half thousand protesters have died and more than 18 thousand are in custody.

The Iranian government may blame America and Israel for instigating these protests, but the truth is that the currency Riyal has degenerated so much that it has no value left. Value of Riyal in US Dollar ‘0’ Has occurred. Similarly, Iranian Rial no longer has any value in Euro.

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Where is Riyal next to Indian Rupee??

The value of the Iranian Rial has become almost negligible even against the Indian Rupee. At present i.e. on January 14, the price of 1 Riyal is Rs 0.000083.

If calculated according to this, the value of 1 rupee is equal to 12,110 riyals. At the same time, the price of Rs 10 is more than 1.21 lakh riyals. Whereas, the price of Rs 100 has reached more than 12 lakh riyals.

How Iranian Rial has weakened can be gauged from the fact that 5 years ago on January 16, 2021, the price of 1 Rial was Rs 0.0017. That is, at that time 1 Indian rupee was equal to 588 riyals. At that time the price of Rs 10 was 5,882 Riyal and the price of Rs 100 was 58,823 Riyal.

This means that in 5 years the value of Iranian Rial has decreased more than 20 times compared to the Indian Rupee.

Not only this, demonstrations started in Iran from 28 December. The value of 1 Riyal that day was Rs 0.0021. That means, in just 17 days, the value of Iranian Rial has weakened 25 times against the Indian Rupee.

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How did the Rial become so weak??

How weak a currency is around the world is compared to the US dollar. In 1979, when the Islamic Revolution took place in Iran, the value of 1 dollar was equal to 70 riyals. now its value ‘0’ Has occurred.

There are many factors behind Iran’s weak currency. One of these factors is the Islamic Revolutionary Guard Corps (IRGC).IRGC) Is. It was built after the Islamic Revolution. most powerful in iran IRGC It is only there. After the Gulf War ended in the 90s IRGC It was reconstructed and made more powerful.

Iran’s economy gradually IRGC And he got control of his companies. After this, when America started imposing sanctions on Iran, Supreme Leader Ayatollah Ali Khamenei made it more powerful. The private sector has almost disappeared from the economy and all the power IRGC Came near.

In between, the sanctions imposed on Iran were relaxed to some extent. However, this relaxation did not last long. When US sanctions were reimposed in 2018, $1 was worth 42,000 riyals.

American sanctions also significantly reduced Iran’s exports. Iran’s economy is largely dependent on oil. According to the Iran Open Data Project, Iran found a new way to avoid American sanctions, but despite this, its income from oil export was 20%.% Decreased.

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How bad has the economy become??

sanctions and IRGC Iran’s economy suffered significant losses due to its control. The World Bank says that due to focus only on oil and sanctions, Iran’s economy is lagging behind by 10 years. Iran’s GDP grew by an average of 0.6% every year between 2011 and 2020.% There was a decline of.

According to the World Bank report, more than 10 million Iranians have fallen into poverty in the last decade. The share of Iranians living below the international poverty line between 2011 and 2020 20% increased from 28% It is done.

During this period, not only has the number of Iranians living in poverty increased, but the condition of those Iranians who were above the poverty line has also deteriorated.

Inflation has also increased due to the fall in the value of Riyal against the Dollar. Inflation rate in Iran 42 in December% Which will reach 33 in 2024% Was around. Due to this, living, eating, traveling and treatment have all become expensive.