by Sierra Marlee | December 29, 2016 8:11 pm
The world stood still on the night Trump was elected. Nobody was sure what this meant to the global economies. Would our stock market tank? Would it rise? How would the rest of the world react, especially the Middle Eastern countries that Trump had threatened?
Now we’re getting a good look at how Iran has reacted to Trump’s election and they may not exactly be pleased with the results.
Iranian currency has TANKED since the 2016 election and it would appear that global markets are anticipating Trump to make good on his promises against Iran.
Instead, in the 45 days since Trump’s election, the U.S. stock market has soared and the dollar has strengthened due to increased optimism and greater expectations of a good business economy, while it is America’s enemies and rivals that are struggling to keep up with the economic surge.
Take for example the Islamic Republic of Iran, which expected its own economy to take off following the lifting of economic sanctions as part of the nuclear deal reached with President Barack Obama, but instead has seen its economy remain stagnant while its currency has plunged to record low values, according to Reuters.
Currency traders in Tehran are reporting that the Iranian rial is trading at the astronomical rate of 41,500 per one U.S. dollar, down significantly from the 35,570 rate seen in mid-September before the election. The previous record low for the rial was set in 2012 at 40,000 rials per dollar.
While Iranian economists and the government have come up with a slew of excuses to explain the extreme devaluation — some valid, others not — left largely unsaid is the effect that Trump’s election has had on the Iranian economy.
This will certainly make for an interesting future. If nothing else, Trump’s presidency is definitely going to prompt a lot of change.
Source URL: https://rightwingnews.com/top-news/look-just-happened-iran-world-markets-believe-trump-will-make-good-threats/
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