U$D=34,000 Rials; what then?

by rbnfl

The new school year is upon us in the U.S. and many visitors to Iran have come back from their annual or bi-annual journey to the motherland.

The common theme that seems to worry everyone can be reduced to:

1) Out of control inflation and high prices; other than the top 10%, no one can eat meat more than once a week.

2) Out of control smog levels in large cities which is really tough on the elders.

3) Last but not least, feeling among most Iranians in business is that the rial will be devaluated another 30-35% in 3-4 months.

I have relatives in Tehran who for the most part never say anything on the phone or never complain.  But since most of them live on what  could be best described as fixed income, I really worry about them being able to live a "normal" life in the near future.

And all of this is if, God forbid, a war is not started. 


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