Iran’s Currency Collapses

from The Still Report

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Good evening, I’m still reporting on: Iran’s Currency Collapses, 2161

Synopsis: According to Radio Farda – the US government-funded Persian-language version of Radio Free Europe – the Iranian currency – the Rial – is collapsing.
What does this mean? Here is a photo of a line of Iranians in front of a currency exchange ready to travel abroad. They have to have foreign currency to pay for things because a coffee shop in Paris has no idea what an Iranian Rial is, much less what it is worth.
So, here is the current spot price for the Rial, one Rial is worth – .000024 of a dollar. Or the inverse is it would take 41,666 Rials to buy one dollar – today.
When this story was written a few hours ago, the price was 40,000 Rial to a dollar. So international confidence in the Rial is sinking fast, and that’s what a currency collapse is.

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Bill Still is a former newspaper editor and publisher. He has written for USA Today, The Saturday Evening Post, the Los Angeles Times Syndicate, OMNI magazine, and has also produced the syndicated radio program, Health News. He has written 22 books and two documentary videos and is the host of his wildly popular daily YouTube Channel the “Still Report”, the quintessential report on the economy and Washington.

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...Published: April 16th, 2018 |

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