[Manish Rai] Iranian currency, Rial, has lost 40% value since May when Donald Trump pulled out of Iran deal and announced sanctions. Now Rial is one of the most worthless currency on earth.
What’s more, Iran is experiencing its worst drought in 50 years, leaving electricity output from hydropower plants at a bare minimum. Capital outflow surpassed the inflow. Last year, Iran had a capital account deficit of $11 billion and unemployment is above 11%. All these numbers indicate that Iran’s economy has become fragile and is quickly moving into a death spiral.