After the US exit from the nuclear agreement and new sanctions, the government in Tehran is fighting against the decline of the currency. The uncensored news app Telegram is also to blame for the fall in value of the Rial. Traders deliberately share false news for their own profit.
Over 50 million people use telegrams in Iran. The news app in Iran is the only way to communicate uncensored. Telegram serves the Iranians as an information network. The decline of the currency began with the statement by US President Donald Trump to quit the 2015 Nuclear Agreement (JCPOA).
The currency traders of the foreign exchange black market speculated in the new sanctions to earn. Anyone who was able to quickly earn dollars in Iran. Real estate was sold and the profit exchanged for dollars. Through Telegram, they created hundreds of news channels that informed about currency devaluations. The Iranian rial lost about 70 percent of its value this year. One dollar costs around 42,000 rials. On the black market but 145,000 Rial. The population is nervous and news that telegram is shared by currency traders push the dollar even further.
Center of the action is the bazaar Ferdowsi in Tehran. Foreign exchange is traded here. Some channels on Telegram have more than 2 million readers. Positive economic developments are deliberately not shared or countered with false news.
The Iranian government had made several attempts to block the news service. In December last year, the government blocked it for several days as part of protests in the country to make it harder for protesters to organize their protests. Iranian President Hassan Rohani had concealed the app but to power. The young Iranians hoped for him to open the country and ease the strict Islamic rules. So far, his government has opposed a telegram ban.
The government wants to hand over food to the poor in the country that they can no longer afford. Half of the population is considered an arm. The US wants to force the government of Tehran to the negotiating table with its „Iran Action Group“. Washington denies wanting to bring about a regime change in Iran.
