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The Conversation
The Conversation
Nader Habibi, Henry J. Leir Professor of Practice in Economics of the Middle East, Brandeis University

Iran’s currency was already tumbling − and then news of Trump’s victory broke

Donald Trump Iran Joe Biden Economy Israel United States Tehran Oil Washington D.C.
Traders are exchanging 700,000 Iranian rials for the dollar in Tehran. Ali Mohammadi/Bloomberg

As the world absorbed news of Donald Trump’s comeback victory in the 2024 U.S. presidential race, concern in Iran turned to the impact of the election on its own economy amid escalating regional tensions.

Iran’s currency, the rial, fell to an all-time low on Nov. 6. 2024 – trading at above 700,000 rials to the dollar.

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