Originally published at: IRAN CRISIS: Tehran on EDGE as Currency PLUNGES 18% in 2 Days | Sean Hannity
Iran’s currency continued to plummet Tuesday as the country struggled to contain an escalating financial crisis; plunging nearly 20% in just two days as calls for President Rouhani to step-in and stabilize the economy grow.
According to Bloomberg, the Iranian Revolutionary Guard -in a break from tradition- demanded Rouhani get a grip on the widening crisis as the Iranian rial dropped 18% since the beginning of the week.
The currency is now at an all-time low, hitting exchange rates of 116,000 rials for just $1. In January, the rate was 42,900 rials for $1.
“The unique and extensive backing you benefited from in past weeks shouldn’t preclude you from taking revolutionary actions to control prices and prevent the enormous increase in the price of foreign currency and gold,” said the IRG.
“Decision-making in today’s difficult circumstances necessitates revolutionary determination and decisiveness in dealing with certain managers’ weaknesses,” added Guard commander Mohammad Jafari.
Read the full report here.
