Iran’s currency falls to an all-time low as Trump is on the verge of clinching the US presidency

By AMIR VAHDAT and NASSER KARIMI, Associated Press

TEHRAN, Iran (AP) — Iran’s currency fell connected Wednesday to an all-time debased arsenic erstwhile President Donald Trump was connected the verge of clinching the U.S. presidency again, signaling caller challenges up for Tehran arsenic it remains locked successful the wars raging successful the Middle East.

The rial traded astatine 703,000 rials to the dollar, traders successful Tehran said. The complaint could inactive alteration passim the day. Iran’s Central Bank could flood the marketplace with much hard currencies arsenic an effort to amended the rate, arsenic it has done successful the past.

The descent comes arsenic the rial already faces sizeable woes implicit its crisp descent successful worth — and arsenic the temper connected the streets of Tehran among immoderate darkened.

“One-hundred percent helium volition intensify the sanctions,” said Amir Aghaeian, a 22-year-old student. “Things that are not successful our favour volition beryllium worse. Our system and societal concern volition surely get worse.”

He added: “I consciousness the state is going to stroke up.”

In 2015, astatine the clip of Iran’s atomic woody with satellite powers, the rial was astatine 32,000 to $1. On July 30, the time that Iran’s reformist President Masoud Pezeshkian was sworn in and started his term, the complaint was 584,000 to $1.

Trump unilaterally withdrew America from the accord successful 2018, sparking years of tensions betwixt the countries that persist today.

Iran’s system has struggled for years nether crippling planetary sanctions implicit its rapidly advancing atomic program, which present enriches uranium astatine adjacent weapons-grade levels.

Pezeshkian, elected aft a chopper clang killed hard-line President Ebrahim Raisi successful May, came to powerfulness connected a committedness to scope a woody to easiness Western sanctions.

However, Iran’s authorities has for weeks been trying to downplay the effect connected Tehran of whoever won Tuesday’s predetermination successful the United States. That stance continued connected Wednesday with a little remark from Fatemeh Mohajerani, a spokeswoman for Pezeshkian’s administration.

”The predetermination of the U.S. president doesn’t person thing specifically to bash with us,” she said. “The large policies of America and the Islamic Republic are fixed, and they won’t heavy alteration by radical replacing others. We person already made indispensable preparations successful advance.”

But tensions stay precocious betwixt the nations, 45 years aft the 1979 U.S. Embassy takeover and 444-day hostage crisis that followed.

Iran remains locked successful the Mideast wars roiling the region, with its allies battered — militant groups and fighters of its self-described “Axis of Resistance,” including the militant Palestinian Hamas, lebanon’s Hezbollah and Yemen’s Houthi rebels.

Israel is pressing its warfare successful the Gaza Strip targeting Hamas and its penetration of Lebanon amid devastating attacks against Hezbollah. At the aforesaid time, Iran inactive appears to beryllium assessing harm from Israel’s strikes connected the Islamic Republic connected Oct. 26 successful effect to 2 Iranian ballistic rocket attacks.

Iran has threatened to retaliate against Israel — wherever U.S. troops present antheral a rocket defence battery.

Mahmoud Parvari, a 71-year-old taxi operator successful Tehran, did not mince his words erstwhile discussing Trump.

“I consciousness similar I’m seeing the devil,” helium said. “He looks similar Satan, his eyes are similar Satan and his behaviour is similar a huffy man.”

But different taxi driver, who lone gave his past sanction arsenic Hosseini, offered a much pragmatic view.

“If it helps my state I would definitely” marque a woody with Trump, helium said. “It doesn’t substance if it’s Trump oregon anyone else. After each helium is simply a quality being.”

Associated Press writer Jon Gambrell successful Dubai, United Arab Emirates, contributed to this report.