Skip to main content

Iran Needs Nuclear Talks To Stabilize Currency

In the lead-up to today’s negotiations in Baghdad, Iran has insisted it doesn't need a nuclear agreement with the international community and that its economy can survive more punishment. But one look at Iran’s currency suggests otherwise, writes Barbara Slavin. No government, however autocratic, can ignore its business interests.
A money dealer counts Iranian rial banknotes in his office in Baghdad January 30, 2012. In the money changing shops dotted around Baghdad's Karrada district, Iraqi merchants dabble in many currencies, but these days some joke that banknotes from neighbouring Iran and Syria are only worth plastering on windows as decorations. Picture taken January 30, 2012. To match Feature IRAQ-SANCTIONS/     REUTERS/Saad Shalash (IRAQ - Tags: SOCIETY BUSINESS)

In the lead-up to today’s negotiations in Baghdad, Iranian officials have labored to insist that they do not need a nuclear agreement with the international community and that their economy can survive more punishment.

But one look at the recent gyrations of Iran’s currency suggests otherwise.

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.

Subscribe

Only $100 per year.