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SiFa04
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๐ฎ๐ทโกIRAN PRINTS THE LARGEST BANKNOTE AMID CRISIS, FEAR, AND CASH RUSHโก๐ฎ๐ท
Iran has introduced the highest denomination banknote in its history, worth 10 million rials, equivalent to about ยฃ7.6, in response to a growing demand for cash fueled by geopolitical and military tensions with the United States and Israel.
According to reports from the Financial Times, the country's banks are facing unprecedented pressure: long lines at counters and rapidly depleting cash availability.
The population fears possible disruptions to electronic payment systems, especially after attacks that have targeted critical infrastructure and damaged buildings of the state bank Sepah.
The macroeconomic context remains extremely fragile.
International sanctions continue to compress the economy, while annual inflation has reached 47.5% and the prices of goods have recorded increases exceeding 105%.
The rial has significantly devalued, eroding the purchasing power of families.
Despite assurances from authorities regarding the continuity of digital payments, restrictions on access to cash are fueling further distrust in the financial system and pushing citizens and businesses to accumulate liquidity as a form of immediate protection and local businesses
#breakingnews #iran
Iran has introduced the highest denomination banknote in its history, worth 10 million rials, equivalent to about ยฃ7.6, in response to a growing demand for cash fueled by geopolitical and military tensions with the United States and Israel.
According to reports from the Financial Times, the country's banks are facing unprecedented pressure: long lines at counters and rapidly depleting cash availability.
The population fears possible disruptions to electronic payment systems, especially after attacks that have targeted critical infrastructure and damaged buildings of the state bank Sepah.
The macroeconomic context remains extremely fragile.
International sanctions continue to compress the economy, while annual inflation has reached 47.5% and the prices of goods have recorded increases exceeding 105%.
The rial has significantly devalued, eroding the purchasing power of families.
Despite assurances from authorities regarding the continuity of digital payments, restrictions on access to cash are fueling further distrust in the financial system and pushing citizens and businesses to accumulate liquidity as a form of immediate protection and local businesses
#breakingnews #iran
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