Iran’s national currency, the rial, has experienced a dramatic collapse, reaching approximately 2.02 million rials per U.S. dollar. This severe depreciation is driving Iranian citizens to seek refuge in gold and other assets, reflecting widespread loss of confidence in the national currency. The mounting financial instability raises questions about President Masoud Pezeshkian’s ability to remain in power. Prediction markets show a slight increase in the likelihood of Pezeshkian stepping down by year-end, highlighting growing political uncertainty in Iran.
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