Iranian: 'Our money is becoming more and more worthless every day'

fivemileshigh

full member

Activity: 136

Merit: 100

Quote from: Audriux9 on September 30, 2012, 06:30:01 PM

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I think the article is a bit misleading. Quoted exchange rate in the article was traded in unofficial markets. I've just checked exchange rate for official rate of USD/IRR on several websites (www.forexticket.co.uk, www.oanda.com). All of them show the same current exchange rate around 12,28 Iranian Rial per USD Dollar and this exchange rate is pretty stable since February 2012.

Of course unofficial markets are reflecting the results of the current sanctions and economic sabotage by US. Still, Central Bank of Iran is preserving stable exchange rate to control economic situation, and not to give up for US pressure.

Try actually buying 1US$ for 12.28 rials, you might be in for a surprise.

b!z

legendary

Activity: 1582

Merit: 1010

Time to start investing in Zimbabwean currency then.

HDSolar

sr. member

Activity: 386

Merit: 250

Quote from: Audriux9 on September 30, 2012, 06:30:01 PM

Quote from: HDSolar on September 28, 2012, 09:56:44 AM

Somewhere on here someone posted seeing a popup of a bitcoin node in Iran. Might want to keep a watch on that node.

http://worldnews.nbcnews.com/_news/2012/09/28/14137979-iranian-our-money-is-becoming-more-and-more-worthless-every-day?lite&ocid=msnhp

I think the article is a bit misleading. Quoted exchange rate in the article was traded in unofficial markets. I've just checked exchange rate for official rate of USD/IRR on several websites (www.forexticket.co.uk, www.oanda.com). All of them show the same current exchange rate around 12,28 Iranian Rial per USD Dollar and this exchange rate is pretty stable since February 2012.

Of course unofficial markets are reflecting the results of the current sanctions and economic sabotage by US. Still, Central Bank of Iran is preserving stable exchange rate to control economic situation, and not to give up for US pressure.

Ya I am not a big fan of the majority of news outlets but I posted this because someone else noted Iran popping with bitcoin activity. It will be interesting to see if this keeps up and if bitcoin becomes more of an option versus people hording other currencies and or running the boarder to trade goods.

Not sure what is going to happen but the more news about Iran the more something is going on.

Audriux9

member

Activity: 72

Merit: 10

Quote from: HDSolar on September 28, 2012, 09:56:44 AM

Somewhere on here someone posted seeing a popup of a bitcoin node in Iran. Might want to keep a watch on that node.

http://worldnews.nbcnews.com/_news/2012/09/28/14137979-iranian-our-money-is-becoming-more-and-more-worthless-every-day?lite&ocid=msnhp

I think the article is a bit misleading. Quoted exchange rate in the article was traded in unofficial markets. I've just checked exchange rate for official rate of USD/IRR on several websites (www.forexticket.co.uk, www.oanda.com). All of them show the same current exchange rate around 12,28 Iranian Rial per USD Dollar and this exchange rate is pretty stable since February 2012.

Of course unofficial markets are reflecting the results of the current sanctions and economic sabotage by US. Still, Central Bank of Iran is preserving stable exchange rate to control economic situation, and not to give up for US pressure.

HDSolar

sr. member

Activity: 386

Merit: 250

Somewhere on here someone posted seeing a popup of a bitcoin node in Iran. Might want to keep a watch on that node.

http://worldnews.nbcnews.com/_news/2012/09/28/14137979-iranian-our-money-is-becoming-more-and-more-worthless-every-day?lite&ocid=msnhp

Topic: Iranian: 'Our money is becoming more and more worthless every day' (Read 1012 times)