Quite suddenly, it seems, Iran’s economy is in serious trouble. In recent days, the country’s national currency has fallen to record lows against the U.S. dollar. On October 1st alone, the value of the Iranian rial declined by some 17 percent, collapsing to 34,700 to one American dollar. (It has since reportedly fallen still further). All told, the rial has lost more than 80 percent of its worth over the past year.
Several cities erupt in anti-Japan protests;
A mysterious gas explosion in Xinjiang
The troubling travails of Rimsha Masih, a Christian teenager who lives near Islamabad and is facing blasphemy charges for allegedly burning pages of the Koran to cook, reflects the growing intolerance toward religious minorities that amounts to what one expert calls a “gradual genocide” in Pakistan.
Currency Woes Hit Tehran;
Joblessness, Inflation Soar as Western Sanctions Bite
When it comes to American policy toward the Islamic Republic of Iran, one approach has tended to crowd out all others. Over time, economic sanctions have come to be seen as something of a catch-all—a panacea of sorts for the West's nagging problem with the Iranian regime and its persistent nuclear ambitions. As a result, policymakers in Washington, as well as their counterparts across the Atlantic, have invested tremendous time and energy in crafting an elaborate framework of economic pressure against the Iranian regime.