Iran’s war of terror against Israel has brought significant setbacks to the Islamic Republic’s already beleaguered economy.

In just two weeks, the Iranian rial has plummeted over 5%, trading at a dismal 630,000 to the US dollar. Predictably, gold prices have surged alongside the dollar and other major currencies as Iranians scramble to protect their savings.

The rial’s freefall began when Iran’s terrorist proxy Hezbollah suffered mass casualties from mysteriously exploding pagers and walkie-talkies. An Israeli airstrike then eliminated the terror organization’s leader Hassan Nasrallah, prompting the regime to launch a failed ballistic missile attack on the Jewish State last week.

Furthermore, Israel’s threat of retaliation has left Tehran on edge, further weakening its already fragile economy. An attack on Iranian refineries could spell disaster as winter approaches, potentially triggering domestic chaos and crippling the regime’s lucrative oil exports.

Since the US withdrew from the disastrous JCPOA nuclear deal in 2018 and imposed sanctions on Iran’s oil exports and international banking, the rial has lost a staggering 15 times its value. In the past three years alone, it has depreciated by over 50%, coinciding with runaway inflation rates now hovering between 40-50%.

The fallout has pushed tens of millions of Iranians into poverty, creating a powder keg of public discontent. A recent report by Iran’s semi-official Labour News Agency indicates that one-third of Iran’s population now lives in extreme poverty. However, international estimates suggest the real figure could be much higher, with some reporting 60% of citizens living below the poverty line.”

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