In light of the historic decline in currency value, 50 Iranian MPs signed a petition calling for the dismissal of the Economy Minister. The collapse of the Iranian rial was not limited to the US dollar but extended to all foreign currencies, such as the euro and British pound. The rial has lost about 7% of its value since the resumption of the seventh round of negotiations between Iran and the rest of the parties to the nuclear agreement in Vienna on November 29th, influenced by pessimistic statements from European and American officials following the nuclear talks.
In a related context, Iranian President Ebrahim Raisi, in a speech to a crowd of university students in Tehran, accused both internal and external entities of being behind the currency depreciation. Raisi, speaking on Student Day, stated, "I have accurate information that some are trying to raise the exchange rate of foreign currencies concurrently with the nuclear negotiations to tie the negotiations to the economy." It is noteworthy that due to American sanctions and a decline in Iranian oil exports, the inflation rate in the country has significantly increased, while the prices of essential goods have risen and the purchasing power of Iranians has diminished.
