1 USD = 42515 IRR (official rate)
1 USD = ~90000 IRR (black market rate)
Iranian Rial – is the lowest currency in the world.
Iran-Iraq War, Israel attacking, as well as the possibility of a Nuclear Weapon threatening the world from Iran government caused world superpowers to force economic and political sanctions. These measures included restricting access to the world commodity market and led to significant downturn in their economy. Being an oil exporter, Iran could no longer export its oil, which created a critical deficit in their budget.
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