(Times Of Ocean)- The president of Iran’s Chamber of Commerce said Wednesday the Iranian currency would lose its value against the U.S. dollar again.
Ferial Mostofi emphasized Iran’s Rial to plunge to a record low due to the Raisi administration’s economic policies.
She argues that Rial’s value will rise if JCPOA is revived, but the rise will be short-term, and the dollar will hit the Iranian Rial again as soon as Tehran’s wrong policies directly impact it.
M. Mostofi predicts the U.S. dollar will be sold between 30,000 to 40,000 Toman (300,000 to 400,000 Rial).
By 12:00 p.m. (GMT+4:30) Wednesday, Rial was trading close to 28,000 Toman (280,000 Rial) against the U.S. dollar in the Iranian free market, which has increased by 0.2%.
“Iranians will be given a financial lifeline if the nuclear talks are successful,” pro-Tehran experts imagine.
Iranians are once again confident that a nuclear agreement can be reached with the U.S., which could strengthen Iran’s battered currency and its crippled economy.
As the national currency strengthens, the price of gold will fall, particularly for coins, which many Iranians can buy to protect their savings.
Iran Nuclear Deal: What it all means
Josep Borrell, EU foreign policy chief, tells the European Parliament that Russian objections have been overcome, but talks have stalled over Tehran’s demand to delist the Islamic Revolutionary Guard Corps (IRGC).
The U.S. special envoy for Iran, Rob Malley, has warned that a deal to save the nuclear agreement with Iran is neither imminent nor inevitable as diplomatic efforts stall over Tehran’s demand that Washington remove the terrorist designation from the elite Revolutionary Guards.
Rob Malley also added a deal was “not just around the corner and is not inevitable”.
U.S. special envoy Robert Malley previously said the U.S. would maintain sanctions on Iran’s Revolutionary Guards if a deal is reached to limit the country’s nuclear program.
The IRGC is on the list because of Tehran’s action supporting the Syrian government, Yemeni Houthi rebels, and Hezbollah’s Lebanese terror group and Iran’s ongoing state-sponsored terrorism.
The White House designated the IRGC as a “foreign terrorist organization” [FTO] under then-president Donald Trump in April 2019.
The announcement came a year after Trump unilaterally withdrew the United States from the 2015 nuclear deal.
Iranian officials want guarantees that the United States will not withdraw from the deal again. Malley, however, says there could be no guarantee after President Joe Biden’s term ends.