Iran's economy

Iran's currency called Rial. Today I have been informed that 1 US dollar exchanged for 364500 Rials in Tehran. During Islamic revolution 43 years ago 1 US dollar exchanged for 70 Rials in Tehran. 

You may ask who is responsible for dropping Iran's currency against US dollar? Good question, the answer is Iran's government. Here is how they do business; each month they take US dollar from reserve and sell it in the market to pay for government employees' salary. They want to sell it at higher price so they fluctuate the market to get higher price for dollars they have. That drives prices high to a point that people cannot afford basic food. Prices of everything has gone up and in some cases there are 1000 percent increase of prices.

Now you may have understanding how devastating is increasing US dollar on Iran's economy. Some people asked "what about sanctions?" of course sanctions have had negative effect on economy but economy was in terrible shape even before sanctions and US dollar was increasing all the time and prices was going up. Although the prices going up and inflation is high, Iran's central bank has been keeping interest rate steady!

Clergies in Iran do not believe in economic science. They only believe in getting US dollars in exchange of exporting oil and mining products then sell the dollars at higher price in the market. They have been driving inflation higher with their approach so far and so destroying economy. There is no room to growth in the current economy.