Iran Snap Analysis: Ahmadinejad and The Economy's "Worthless Pieces of Paper"

Five years ago, as he called on OPEC members to convert their cash reserves into a currency other than the US dollar, President Ahmadinejad said of Americans, "They get our oil and give us a worthless piece of paper."

Today, Ahmadinejad awakes to an Iranian Rial which has lost almost half its value in the last nine days despite --- or possibly because of --- a Central Bank intervention which was meant to prop it up. Having traded at just over 10000:1 vs. the "worthless" US dollar a year ago, the Rial is posted on currency websites at 35500:1 to 35800:1. At one point on Tuesday, it reportedly touched 40000:1 in some exchanges before settling --- according to some accounts, assisted by arrests of currency traders.

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The Latest from Iran (8 March): Let the Political In-Fighting Resume

See also Iran Document Special: The UN Report on "Violations of Fundamental Human Rights"
The Latest from Iran (7 March): "The People Are Not Happy"

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2150 GMT: At the Movies. Pro-regime filmmaker Farajollah Salahshour has expressed his anger about his daughter's congratulations to Oscar-winning director Ashgar Farhadi "for depicting social problems".

2145 GMT: Hunger Strike Watch. Al Jazeera English notices the hunger strike of blogger, physician, and dissident Mehdi Khazali, now in its 60th day.

1915 GMT: A Special Day. A belated note that today is International Women's Day. Google marks the occasion:

But the distinctly Iranian presentation comes from Kanoon Nevisandegan (Writers Assocation):

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