Iran's Currency Falls to an All-time Low After Donald Trump's Historic Win

TEHRAN: Iran's rial currency plunged to an all-time low on Wednesday, just as former President Donald Trump was on verge of re-election.

rial traded at 703,000 rials per dollar. It was 32,000 to $1 in 2015, when Iran reached a nuclear deal with Western countries.

rial traded at 703,000 rials to dollar, traders in Tehran said. rate could still change throughout day. Iran’s Central Bank could flood market with more hard currencies as an attempt to improve rate, as it has done in past.

slide comes as rial already faces considerable woes over its sharp slide in value — and as mood on streets of Tehran among some darkened.

“One-hundred percent he will intensify sanctions,” said Amir Aghaeian, a 22-year-old student. “Things that are t in our favor will be worse. Our ecomy and social situation will surely get worse.”

In 2015, at time of Iran’s nuclear deal with world powers, rial was at 32,000 to $1. On July 30, day that Iran’s reformist President Masoud Pezeshkian was sworn in and started his term, rate was 584,000 to $1.

Trump unilaterally withdrew America from accord in 2018, sparking years of tensions between countries that persist today.

Iran’s ecomy has struggled for years under crippling international sanctions over its rapidly advancing nuclear program, which w enriches uranium at near weapons-grade levels.

Pezeshkian, elected after a helicopter crash killed hard-line President Ebrahim Raisi in May, came to power on a promise to reach a deal to ease Western sanctions.

However, Iran’s government has for weeks been trying to downplay effect on Tehran of whoever won Tuesday’s election in United States. That stance continued on Wednesday with a brief comment from Fatemeh Mohajerani, a spokeswoman for Pezeshkian’s administration.

” election of U.S. president doesn’t have anything specifically to do with us,” she said. “ major policies of America and Islamic Republic are fixed, and y won’t heavily change by people replacing ors. We have already made necessary preparations in advance.”

But tensions remain high between nations, 45 years after 1979 U.S. Embassy takeover and 444-day host crisis that followed.

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

Israel is pressing its war in Gaza Strip targeting Hamas and its invasion of Leban amid devastating attacks against Hezbollah. At same time, Iran still appears to be assessing dam from Israel’s strikes on Islamic Republic on Oct. 26 in response to two Iranian ballistic missile attacks.

Iran has threatened to retaliate against Israel — where U.S. troops w man a missile defense battery.

Mahmoud Parvari, a 71-year-old taxi driver in Tehran, did t mince his words when discussing Trump.

“I feel like I’m seeing devil,” he said. “He looks like Satan, his eyes are like Satan and his behavior is like a mad man.”

But ar taxi driver, who only gave his last name as Hosseini, offered a more pragmatic view.

“If it helps my country I would definitely” make a deal with Trump, he said. “It doesn’t matter if it’s Trump or anyone else. After all he is a human being.”

Donald Trump's Historic Win

Leaders around world posted congratulatory messs online as Donald Trump was on cusp of victory in U.S. presidential race.

Ukrainian President Volodymyr Zelenskyy said he appreciates Trump’s commitment to “peace through strength” as Republican presidential minee closes in on electoral votes needed to win White House.

“I recall our great meeting with President Trump back in September, when we discussed in detail Ukraine-U.S. strategic partnership, Victory Plan, and ways to put an end to Russian aggression against Ukraine,” said Zelenskyy on social platform X.

Zelenskyy said that Ukraine is interested “in developing mutually beneficial political and ecomic cooperation that will benefit both of our nations.”

“We look forward to an era of a strong United States of America under President Trump’s decisive leadership,” he added.

French President Emmanuel Macron also posted his congratulations on X: “Ready to work toger as we were able to do during four years. With your convictions and mine. In respect and ambition. For more peace and prosperity.”

With AP Inputs