Iran’s Parliament ousts Finance Minister as rial plunges ...Iraq

Hemmati lost the confidence votenearly eight months after President Masoud Pezeshkian’s administration tookoffice, with 182 out of 273 lawmakers voting in favor of his removal followinga steep depreciation of the Iranian rial.

On Sunday, the currency traded onthe black market at over 920,000 per US dollar, compared to less than 600,000in 2024, and 32,000 in 2015.

This depreciation in the Iraniancurrency comes a few months after US President Donald Trump took office andbrought back his “maximum pressure” economic policy against Iran.

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