Zamaneh Media
  • Latest Articles
  • Latest News
  • About Zamaneh Media
    • Exiled Media Report
    • Sponsors
    • Donate
    • Contact us
    • Legal
  • Advertise
No Result
View All Result
  • Latest Articles
  • Latest News
  • About Zamaneh Media
    • Exiled Media Report
    • Sponsors
    • Donate
    • Contact us
    • Legal
  • Advertise
No Result
View All Result
Zamaneh Media
No Result
View All Result

Plummeting currency hampers Iranian pilgrims

by Zamaneh Media
October 2, 2012
in Latest Articles
Reading Time: 1min read
0
Plummeting currency hampers Iranian pilgrims

Iranian pilgrims to Saudi Arabia have been caught up in the sudden fall in the value of the Iranian rial against the Saudi rial, which is severely limiting their spending power.

The Mehr News Agency reports that the extreme fluctuations in Tehran’s currency market mean the cost of one Saudi rial has risen from 3,500 Iranian rials to 10,000.

The report adds that a large number of pilgrims who entered Medina in the past few days have lost much of their spending power. Unlike last year, local retailers and some stores are reportedly refusing to accept Iranian currency.

The Iranian government, despite several measures, has been unable to calm the currency market, and yesterday the rial had its steepest fall, losing another 15 percent in value.

The fall has come after widespread international sanctions on Iran’s oil and financial sectors kicked in last July.

Today, Iran’s minister of industry called on security forces to crack down on currency speculators, insisting that their activities are responsible for the sudden fall in the rial.

Previous Post

Rial’s slide shows sanctions working: U.S.

Next Post

To Help A Drowning Victim

Related Posts

Veiled Identity
Latest Articles

Veiled Identity

February 22, 2021
Untold Stories from Encyclopaedia Iranica: Interview with Abbas Amanat
Latest Articles

Untold Stories from Encyclopaedia Iranica: Interview with Abbas Amanat

February 11, 2021
November 2019: Which security and militia institutions started violence and shot people?
Latest Articles

November 2019: Which security and militia institutions started violence and shot people?

January 8, 2021
Encyclopedia Iranica “A real tour de force” is in Peril
Latest Articles

Encyclopedia Iranica “A real tour de force” is in Peril

December 24, 2020
The US Election and the Iranians’ Views: a Reflection of the Hatred for the IRI
Latest Articles

The US Election and the Iranians’ Views: a Reflection of the Hatred for the IRI

November 3, 2020
Invitation to Reflect on a Beheading
Latest Articles

Invitation to Reflect on a Beheading

November 2, 2020

RSS Iran in other media

  • Twenty-four hours of Iran’s total war in Yemen, Iraq and Syria - The Jerusalem Post
  • Iranian expats targeted as drug mules - Yahoo News Australia
  • Deadly consequences of indulging Iran's hostage diplomacy - Arab News
  • Israel says initial assessment is Iran behind explosion on Israeli-owned ship - Reuters
  • Iran condemns U.S. airstrikes in Syria and denies attacks in Iraq - CNBC
  • Iraqi interpreters face death threats from Iranian-backed militias - Arab News
  • They dream of reaching America. Their forced service in Iran’s Revolutionary Guard locks them out. - The Washington Post
  • Iran expects 250,000 doses of vaccine from China - RochesterFirst
  • Internet disruption reported in southeast Iran amid unrest - Seattle Times
  • Social media fight spreads in Iran as women seek to regain international travel rights - ABC News
Zamaneh Media

© 2020 Zamaneh Media

More information

  • Sponsors
  • Donate
  • About us
  • Contact us
  • Legal

Follow Us

No Result
View All Result
  • Latest Articles
  • Latest News
  • About Zamaneh Media
    • Exiled Media Report
    • Sponsors
    • Donate
    • Contact us
    • Legal
  • Advertise

© 2020 Zamaneh Media