Iranian Currency Approaching Toilet Paper Status

In one month, the Iranian rial has lost 15% of its value on concerns over the ability of the government to maintain economic stability in the face of sanctions. By March of 2012, it is anticipated that the annual inflation rate in Iran will have hit 21.6%.

Iranians are rushing to convert their rials to gold or US dollars.

There are, however, at least eight Iranians currently sitting comfortably at home, counting their Bitcoins (this number represents currently-connected users of the standard client):

Posted in: currency exchange,global financial collapse,Iran