Iranian Rial Collapse Renews! Reaching All-Time Lows.
Replies: 69 - Last Post: Jun 19, 2013 4:45 AM Last Post By: amiriniran2
Feb 1, 2013 1:18 AM
Iranian Rial Collapse Renews! Reaching All-Time Lows.S, € & £ rose to as high as 40200, 52000 & 63000 rials respectively yesterday Thursday afternoon!
The exchange rares above were quoted by couple of online tehran 'Sarafis' (authorized money changers).
I will try to update this topic when sarafis reopen for business on Saturday.
Feb 1, 2013 2:52 AM
1Very high demand for hard currency at this time as Iranians prepare for the holiday season and take journeys outside of Iran, expect some correction after the holiday ‘new year’.
Feb 1, 2013 3:12 AM
2Amir, thank you for the information. In your opinion and experience, is this inflation having any effect on prices within Iran? (i.e. since the rial has halved its value in the past year, are things like taxis, hotels, etc now twice as much the price?).
Also, do you think this rapid devaluation will bring about the old "two prices" mentality where Iranians are charged one price, whereas tourists are charged a much higher price?
Thank you for your opinions
Feb 1, 2013 4:44 AM
Feb 1, 2013 11:32 AM
4Lord, most prices have more tan doubled since mid 2012. However, those tourists who are visiting Iran now will still spend considerable less on travel expenses as compared to those who came here even six months ago.
No one should be allowed to charge tourists more for goods than theory charge local Iranians. Nevertheless, it is Up to u to make you wont get ripped off. All I know is that some top-tiered hotels can legally charge rooms in $ or €. That is it. Prices for everything else including budget hotels are in rials and the same for everyone.
Not a temporary thing, I really doubt it .considering the terrible shape iran economy is in now rial should sink even further. I disagree with oldindia comments above. This rial collapse, in my opinion, has nothing to do with upcoming Iran new year holidays (march 19-april 2).
Feb 1, 2013 11:34 AM
5Ok thanks a lot ;)
I lived trough the price hike myself while being in Iran - spent 4 months in Iran during the summer and fall :P
Feb 1, 2013 11:36 AM
Feb 1, 2013 1:53 PM
Feb 2, 2013 1:06 AM
8I was in Iran for a week in December 2012 and enjoyed the benefit of the exchange rate then of 29000 rials to one USD.
For set prices -- trains, buses, flights, hotels, cafes, restaurants, shops -- foreigners pay the same as locals. Indeed, as Amir points out, some hotels will charge you in USD for roughly the the equivalent of the 'street' (as opposed to 'official') exchange rate, although the rate they use is never as good as the rate you'll get in exchange offices.
For things where you have to bargain -- city taxis, shared taxis between towns, and goods in the bazaar -- expect to get ripped off. Or, to put it more kindly, expect business operators to attempt to maximise their earning capacity.
The guy organising the shared taxis from the bus station in Maku in the north-east to Bazargan on the border with Turkey admitted that there was a different price for tourists -- 60000 rials for foreigners, compared with 40000 for locals.
Feb 2, 2013 12:53 PM
Feb 3, 2013 4:48 AM
Feb 7, 2013 3:27 AM
Feb 7, 2013 6:26 AM
Feb 8, 2013 3:20 AM
Feb 19, 2013 12:29 AM
(4 star Hotel)
From US$106.63 per night
(3 star Hotel)
From US$56.15 per night
(3 star Hotel)
From US$103.12 per night