Article

2012-10-02 Syria-Lebanon-Iran

Iran Currency Tumbles 17% in One Day to New Low

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by Fred 2012-10-02 00:00|| || Front Page|| [4 views ] Top
File under: Govt of Iran

#1 What does the loss of value with respect to the dollar do to the average Persian? Why would the cost of staples go up?

Imported products costs would go up, I get that. Gasoline goes up, and it's used to move staples, so there is an indirect effect.

Posted by Bobby 2012-10-02 07:09|| 2012-10-02 07:09|| Front Page Top

#2 If you purchased non-imported raw goods at, say, 100 rials yesterday, would you be willing to sell them for 83 today?

of course, you could always make up for it in volume....right?

Posted by Frank G 2012-10-02 08:12|| 2012-10-02 08:12|| Front Page Top

#3 Why would the cost of staples go up?
Bobby, probably wont for the average Iranian. Iran built enough refining capacity to satisfy home demand. Exported oil is mainly crude. The price of oil is heavily subsidized.
Iran grows its own food and rents are not affected.
Probably the main things they will miss out on are the latest iPads and other gizmos.

Posted by tipper 2012-10-02 08:21|| 2012-10-02 08:21|| Front Page Top

#4 The race to the currency basement between the Theocracy and Bernanke is interesting. Give the edge to the Fed to create more magical money with creative algorithms and computers.

Posted by Procopius2k 2012-10-02 09:08|| 2012-10-02 09:08|| Front Page Top

#5 Any imported items, like those from Europe and China, will keep steadily rising. It's gotta' be eating away at the budgets of Iranian families.

Posted by Raider 2012-10-02 09:38|| 2012-10-02 09:38|| Front Page Top

#6 Approaching "butt-wipe" territory.

Posted by mojo 2012-10-02 15:22|| 2012-10-02 15:22|| Front Page Top

#7 The US + Iran are competing to see whom will be the first to collapse vee the POST-1918/VERSAILLES WEIMAR REPUBLIC OF GERMANY???

* OTOH DEFENCE.PK/FORUMS > IRAN TRANSFERS $10.0BILYUHN TO SYRIA, to bolster Baby Assad's fight agz the Rebs. Defectors from Assad claim that its Iran that has been paying wages of the Syrian Army, not Assad???

Thats $10.0Bilyuhn Iran's financial markets or strategic reserves could've used.

Posted by JosephMendiola 2012-10-02 22:30|| 2012-10-02 22:30|| Front Page Top

23:56 JosephMendiola
22:30 JosephMendiola
22:23 JosephMendiola
22:22 JosephMendiola
22:09 JosephMendiola
21:34 Pappy
21:24 Silentbrick - Schlumberger Squishy Mud Division
20:56 49 pan
20:33 Frank G
19:41 Procopius2k
19:34 JosephMendiola
19:31 JosephMendiola
19:30 Uncle Phester
19:29 JosephMendiola
19:25 Glenmore
19:21 Glenmore
19:18 Glenmore
19:16 Glenmore
19:14 Glenmore
18:45 Cretinous Humongous
18:35 Ebbang Uluque6305
18:32 Cretinous Humongous
18:19 Secret Asian Man
18:19 Bobby