Is Iran’s regime behind its plunging currency?

Rial will continue to lose value at least until April 6

Reports indicate a specific number of currency exchange dealers associated to Iran’s Central Bank and dealers linked directly to the regime are specifying the pricing policy of the currency and gold markets across the country, sources say.

The policy behind the dollar price skyrocketing is pursued by Iran’s government and Central Bank, with the latter being directly involved in advancing the necessary measures, Iranian MP Amir Khojasteh said at a private get-together.

Due to the upcoming return of U.S. sanctions – due on August 6^th and November 4^th – the Iranian government has received permission from Supreme Leader Ali Khamenei to carry out these policies and continue the alarming currency plunge at least until August 6^th.

Iranian President Hassan Rouhani, along with the new Central Bank chief, the Economy Minister and his economic advisors went to see Khamenei last Thursday where they spoke with him in length regarding the country’s economic dilemmas, according to sources citing Khojasteh. Khamenei has the last word on all policy decisions in Iran.

In these discussions it was decided for the government and Central Bank to use their assets and methods to increase the price of gold and currency to an alarming level prior to August 6^th. A new policy will then be adopted after the U.S.’ final decision is clarified on August 6^th, the source added citing Khojasteh.

To prevent any suspicion of the government being involved in the increase of such prices, Khamenei has ordered the regime’s judicial and military institutions to reach out to the media and claim firm action will be taken against those involved in corrupt economic measures.

The threats voiced in the media by judiciary chief Sadeq Larijani and judiciary spokesman Mohseni Ejei, Revolutionary Guards Basij chief Gholam-Hossein Gheibparvar and parliament spokesman Ali Larijani, and the arrests and quelling measures witnessed these days in the currency exchange market and bazaar are aimed at canvasing actions taken by the government against corrupt individuals, according to Khojasteh.