I'm wondering about currencies and their performance. Specifically, I want to know which currency has been performing very poorly.
7 answers
Riccardo
Sat Oct 12 2024
The Iranian rial (IRR) holds the distinction of being the weakest currency globally. This status is determined by the exchange rate it maintains against other major currencies, particularly the U.S. dollar.
SakuraPetal
Sat Oct 12 2024
The operational rate of exchange between the U.S. dollar and the Iranian rial currently stands at 371,992. This figure signifies the vast disparity in value between the two currencies, with a single U.S. dollar equating to an astonishing 371,992 Iranian rials.
Tommaso
Fri Oct 11 2024
The weakness of the Iranian rial can be attributed to various factors, including economic sanctions imposed by international bodies, political instability within Iran, and the country's reliance on oil exports for a significant portion of its revenue.
BonsaiLife
Fri Oct 11 2024
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DaeguDivaDanceQueen
Fri Oct 11 2024
The devaluation of the Iranian rial has had far-reaching implications for the country's economy and citizens. Inflation has soared, eroding the purchasing power of the average Iranian, while the cost of imports has skyrocketed, making basic goods and services unaffordable for many.