Iran’s Currency Drops to Historic Low Following Trump’s Victory

0
832

The Iranian rial traded at 703,000 to the dollar, signaling Iranian fears that Trump could punish Iran with harsh sanctions over its yearlong war on Israel.

 

Iran’s already ailing national currency cratered after Donald Trump’s election victory, heralding tough times for Tehran’s economy as the former president prepares for another term in the White House.

The Iranian rial traded at 703,000 to 1 American dollar early Wednesday, an all-time low, before settling at 696,150 to a single dollar, according to the Associated Press. The steep drop signals fears in Iran that Trump will enter office prepared to level harsh new economic sanctions on the country—and enforce active ones—as punishment for its yearlong war on Israel.

As the Iranian rial tanked, the American stock market surged, with the Dow Jones Industrial Average jumping more than 1,300 points to 45,557 as of mid-day trading. The Nasdaq grew by more than 430 points, hitting 18,875 in the afternoon.

During his first stint as president, Trump decimated Tehran’s economy with sanctions, ushering in a “maximum pressure” campaign that the Biden-Harris administration subsequently dismantled in a bid to entice Iran into a revamped version of the 2015 nuclear accord. Under the administration, Tehran was given access to upwards of $100 billion in cash resources, helping it arm a slew of regional terror proxies that have wreaked havoc on Israel and American military positions in the Middle East.

With Trump’s second term looming over Tehran, the country will have to make tough choices about its war on Israel. Iran has already promised a crushing response to Israel’s first direct attack last month but could decide to hold fire given Trump’s track record of support for the Jewish state. In 2020, Trump greenlit the assassination of Quds Force commander Qassem Soleimani.

Iran said Wednesday that it is not concerned by Trump’s election and saw both candidates as enemies.

“The election of the U.S. president has nothing to do with us. The general policies of the U.S. and Iran are constant,” Iran’s foreign ministry said in a statement. “It doesn’t matter who becomes the president in the United States because all the necessary planning has been made in advance.”

 

***

 

 

Like
1
Buscar
Categorías
Read More
News & Politics
While eyes are on Israel, Arabs slaughter Black Africans in Darfur
Unbelievable footage of Jihadi militias whipping, torturing, and terrorizing  Black Africans...
By NavyVetUnited 2023-11-11 10:06:46 0 8K
Cloak & Dagger
Iran tries to avoid war with U.S. amid rising tensions in the Middle East
Iran's Supreme National Security Council held an emergency meeting this week. Its members are...
By Operation Prosperity Guardian 2024-02-02 08:21:02 0 7K
News & Politics
World, Protesters silent on Sudan massacres: 'no mob outside the White House'
More than 5.6 million people have been driven from their homes, a further 25 million need aid and...
By NavyVetUnited 2023-11-27 08:49:00 0 8K
News & Politics
‘Very strong force’ needed in Gaza after Hamas defeated, says Herzog
"We can't leave a vacuum" that could enable the coastal enclave to turn "into a terror base...
By Israel Swords of Iron Ops 2023-11-16 12:33:20 0 15K
News & Politics
Former EU Brexit Negotiator Michel Barnier Appointed French Prime Minister
At long last, President Emmanuel Macron has picked former EU Brexit negotiator and French...
By NavyVetUnited 2024-09-06 12:13:08 0 3K