currency devaluation

Iranian Economy Under Severe Strain as US Sanctions Bite and Negotiators Face Hard Choices

Iran's economy faces severe difficulty from war damages, inflation, currency devaluation, unemployment and oil revenue contraction. Estimates suggest damage from US-Israeli attacks is nine times last year's budget, with 4.1 million more Iranians potentially falling into poverty. Despite Trump's prediction of Iran 'choking,' tankers are making it through the naval blockade, though the toman has fallen 22% against the dollar and inflation stands at 73.5%. The political elite is questioning how hardline they can afford to be with US negotiators.