Iran's currency rial continues to fall drastically. According to Bonbast.com, the price of one dollar on Monday was 2,15,000 rials. This riyal is almost five times the official rate of 42,000 rial.

According to the news agency Reuters, the central bank had to take steps due to the continuing decline in the last few weeks. The bank put millions of dollars into the market to bring some stability. Central Bank Governor Abdulnansir Hematti has described the move as wise and in the right direction.

He informed that the bank had sufficient reserves of foreign exchange without giving any information. According to economists, the use of those reserves has become necessary due to the impact on the current account and fiscal deficit during the economic crisis caused by the corona virus.

According to Gabris Iradian, chief economic adviser to the Middle East and North Africa at the Institute of International Finance, "They have limited foreign exchange reserves to invest in the market and are now isolated due to isolation from the international community in addition to US sanctions." It will not be possible to prevent any further decline. ''

In 2015, Iran signed a nuclear deal with 6 countries, including the US, but in the year 2018, the US canceled the deal and banned Iran again. Due to this, the value of the currency of Iran was reduced by about 70 percent.

The government tried to fix several exchange rates to reduce the financial burden of importers. But the Rial's decline continued even after the Central Bank's intervention in the free market.

The United Nations watchdog has asked Iran to allow it to visit two suspected old nuclear facilities. In addition, the recent decline has been recorded due to the negativity created by the macroeconomic decline due to Corona Mahamari. But these too can lead to major changes.

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