On Tuesday, after weeks of nationwide unrest, Iran's currency dropped to its lowest value against the dollar. A stalemate in negotiations to revive Tehran's nuclear deal was very influential as well.
Traders in Tehran exchanged the rial at 338,000 to the dollar, up from 332,200 on Monday. Iran's currency was trading at 32,000 rials to the dollar at the time of the 2015 nuclear accord that lifted international sanctions in exchange for tight curbs on Tehran's nuclear program.
The monetary situation is partially due to the protests that were sparked by the death of 22-year-old Mahsa Amini in the custody of the country's morality police. She was detained for allegedly violating the Islamic Republic's strict dress code for women.
The demonstrations have swept the country, morphing into one of the boldest challenges to Iran's ruling clerics since the 1979 Islamic Revolution. Security forces have sought to quash dissent, killing at least 270 people and arresting some 14,000, according to rights groups.
In general, Iran's economy has deteriorated significantly since former US president Trump withdrew the US from the nuclear deal in 2018 and restored suffocating sanctions on Iran's crucial oil and banking sectors.
Source: voanews.com