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Sanctions Eased, Iran Gets Feelers From Old Trading Partners

New York Times Original article ›

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Economic sanctions and the drastic drop in the value of the Rial, Iran's currency, in 2012

10/01/2012

In September alone the value of the Rial dropped by 40%. From the end of 2011 to Oct. the Rial had lost 75% of its value. In one day the currency lost 13%. The exchange rate declined to about 3 dollars for 100,000 rials.

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With inflation running at 20%, and facing sanctions from the EU and the U.S., the Iranian currency declined in value from 7000 rials to the dollar to 15,150 rials to the dollar, acccording to the Fars News Agency.

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