Iranians at the old grand bazaar in Tehran. AP Photo
Iranians at the old grand bazaar in Tehran. AP Photo
Iranians at the old grand bazaar in Tehran. AP Photo
Iranians at the old grand bazaar in Tehran. AP Photo

Iran scrambles to ease inflation as rial's value plummets


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Iran’s inflation crisis showed no sign of ending on Sunday as the dollar sold on the unofficial market for 601,500 rials, up from 540,000 on Friday.

On Monday morning, Iran's state-linked Press TV said the rate had dropped to 550,000 against the dollar after central bank intervention, involving “a new foreign exchange centre which helped satiate demand for hard currencies.”

But the overall picture is gloomy, with the rial having lost 50 per cent of its value since nationwide protests in mid-September, which led to strikes in the energy sector and the country's steel industry, as well as rising international isolation.

Protests initially flared up in Kurdish-majority areas after the death of Mahsa Amini, a 22-year-old who died in police custody after being detained for wearing her hijab “inappropriately. But demonstrations soon spread to Tehran and Sunni majority parts of the south, uniting a broad spectrum of secular opposition groups and minorities.

Western sanctions remain in place after Iran raised its enrichment of uranium to levels that could allow it to create a nuclear bomb. Europe and North America have also imposed new sanctions on the regime following the killing of hundreds of protesters and the jailing of tens of thousands in the recent unrest.

Iran has also faced fresh sanctions for supplying one-way attack drones, also known as Kamikaze drones, to Russian forces in Ukraine. Europe and the US have spent nearly $130 billion on assistance for Ukraine since Russia’s invasion a year ago, and have reacted angrily to Iran’s growing military partnership with Russia.

Iranian authorities have blamed the currency's fall on “the enemies' plot” to destabilise the country, repeating a common government line that the economy is being undermined by foreign saboteurs.

Faced with the prospect of further economic hardship, Iranians have been turning to dollars and other hard currencies, or gold, to protect their savings amid high prices and inflation above 53 per cent.

The specs: 2019 Mercedes-Benz C200 Coupe


Price, base: Dh201,153
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Nine-speed automatic
Power: 204hp @ 5,800rpm
Torque: 300Nm @ 1,600rpm
Fuel economy, combined: 6.7L / 100km

MATCH INFO

Juventus 1 (Dybala 45')

Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')

Red card: Rodrigo Bentancur (Juventus)

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What is a calorie?

A food calorie, or kilocalorie, is a measure of nutritional energy generated from what is consumed.

One calorie, is the amount of heat needed to raise the temperature of 1 kilogram of water by 1°C.

A kilocalorie represents a 1,000 true calories of energy.

Energy density figures are often quoted as calories per serving, with one gram of fat in food containing nine calories, and a gram of protein or carbohydrate providing about four.

Alcohol contains about seven calories a gram. 

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The%20specs
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Chef Nobu's advice for eating sushi

“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”

Washmen Profile

Date Started: May 2015

Founders: Rami Shaar and Jad Halaoui

Based: Dubai, UAE

Sector: Laundry

Employees: 170

Funding: about $8m

Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures

Updated: February 27, 2023, 12:33 PM`