Currency and gold markets in Iran on the verge of collapse: al-Arabiya

In a report on the impact of sanctions on the Iranian regime, which has led to an ?economic crisis, the Arab language al-Arabiya TV said on Sunday that monetary ?imbalances is one of the outcomes of international punitive measures against Tehran.?

The TV said Iran’s merchants are increasingly blaming the regime for the Bazaar’s recent ?misfortunes. ?

According to al-Arabiya, an extension of such measures can lead to the collapse of the ?currency and gold markets in Iran. “This is a warning that foreign exchange shops have ?issued. They have ceased all currency trade and are now fearing currency debasement.”?

?“According to reports obtained by al-Arabiya, trade in currency and gold markets in Iran ?have come to a halt, and there is evidence that the tension is linked with international ?sanctions against the regime,” the TV said.?

It also added that gold sellers in the southern city of Ahvaz have joined an extensive ?protest already covering gold bazaars in Tehran and other major cities. Merchants are ?challenging the regime’s claims that it is capable of resolving the crisis, al-Arabiya said.?

While a bank has declared the exchange rate for Iran’s currency to be 1,850 Tomans for ?every dollar, foreign exchange retailers are refusing to carry out their activities, with one ?of them telling al-Arabiya that the foreign currency market in Iran is now facing a crisis.?

According to experts, currency traders and the gold coin market may face new tensions ?especially since the current situation in Iran has been unprecedented in the past decade, ?the TV report added.?

Back to top button
Close
Close