Joe Weisenthal | Oct. 3, 2012, 8:17 AM
Iran's currency, the Rial, is collapsing due to economic mismanagement and in part oil sanctions that are starting to bite.
So how bad is it?
Journalist Reza Asadi posted this chart showing how many Rial it takes to buy a dollar over the last 70 days.
You can see the number's gone bananas.
Note that on the Persian Calendar it's the year 1391.
Eyewitnesses told the BBC that scores of people gathered outside the central bank, calling for the governor to stand down, chanting anti-government slogans.
<img src='http://static5.businessinsider.com/image/506c324969beddbf45000006-600-569/rial.jpg'>
It's obvious that the spiraling cost of things is having a major destabilizing effect.
The BBC reports on protests:
Riot police in Iran have clashed with protesters in the capital over sharp falls in the currency, the rial.
Tear gas was used to disperse the demonstrators, some of whom were setting fire to tyres and rubbish bins. There were many arrests, reports say.
Read more: http://www.businessinsider.com/chart-of-iranian-rial-2012-10#ixzz28Fwe3vxl
Iran's currency, the Rial, is collapsing due to economic mismanagement and in part oil sanctions that are starting to bite.
So how bad is it?
Journalist Reza Asadi posted this chart showing how many Rial it takes to buy a dollar over the last 70 days.
You can see the number's gone bananas.
Note that on the Persian Calendar it's the year 1391.
Eyewitnesses told the BBC that scores of people gathered outside the central bank, calling for the governor to stand down, chanting anti-government slogans.
<img src='http://static5.businessinsider.com/image/506c324969beddbf45000006-600-569/rial.jpg'>
It's obvious that the spiraling cost of things is having a major destabilizing effect.
The BBC reports on protests:
Riot police in Iran have clashed with protesters in the capital over sharp falls in the currency, the rial.
Tear gas was used to disperse the demonstrators, some of whom were setting fire to tyres and rubbish bins. There were many arrests, reports say.
Read more: http://www.businessinsider.com/chart-of-iranian-rial-2012-10#ixzz28Fwe3vxl
