Reflections

The Depreciation of Iran's Rial

Oct 2, 2012 | 06:35 GMT
A brand new one Pound Sterling banknote issued bythe Bank of England with image of the Queen printed on it is displayed as collector's items on a sidewalk briefcase next to and old ten Rials bill issued by Bank Melli of Iran with the Shah's image for sale on May 3, 2013 in Tehran, Iran.

A brand new one Pound Sterling banknote issued bythe Bank of England with image of the Queen printed on it is displayed as collector's items on a sidewalk briefcase next to and old ten Rials bill issued by Bank Melli of Iran with the Shah's image for sale on May 3, 2013 in Tehran, Iran.

(Kaveh Kazemi/Getty Images)

The rapid fall of the Iranian currency is not evidence that international sanctions are having their desired effect....

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