Iranian Currency Plunges against dollar

[Tartar Horde]

Just heard this on Al Jazeera. Looks like the pressure is being piled on, could it be the stick that breaks the camels back!!!!

[HunterNurturer]

"Reports from Tehran suggest the rial plunged 18% in Monday's trading and then another 9% on Tuesday."
http://www.bbc.co.uk/news/business-19798655

Funny that it started the day after the Israeli Finance Minister came out and said the Iranian economy was on the verge of collapse.
Are the markets overreacting to this?
Is the Israeli Finance Minister a Prophet?
Or is this Israel's very intelligent way of trying to destroy Iran without a single bomb?

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Of course it could just be due to Netanyahu's nuclear speech at the UN General Assembly last week... but the timing of the Israeli Finance Minister's comment still seems fortuitous.

[Paul]

Works for me if it is market manipulation, much better than a burst of instant sunshine.
Lot less messy too.

[Scythe13]

This could easily lead to hyperinflation, or deflation, depending on what the government decides to do.

The drop in the value could actually lead to other currencies being hugely devalued. This was a part of the basis for the Euro; to create a currency that is accepted and given a single value.

Previously the situations and problems in the countries around the world have not caused a devaluation. So of all the situations going on, this one fascinates me the most!