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Throughout the months of 2020, 4 different currencies collapsed against the dollar due to corruption, failed economic measures, and disappointed political adventures, and these coins combined two common denominators that were repeated across all countries – Turkish President Recep Erdogan and the regime of the mullahs in Iran.
- The Iranian riyal enters one of the worst chapters in history … it has completely lost its value against the dollar
- Caesar … the full story of the hero of the nightmares of Syria, Iran and Hezbollah
The currencies of the Turkish, Syrian and Lebanese lira, as well as the Iranian riyal, were the worst performers in the region against the dollar in 2020, with record declines of more than 200%.
Lebanese pound – 290%
In Lebanon, look for the Hezbollah militia, the Iranian arm to sow unrest and chaos, sabotage the economy and thwart all development and advancement plans in various Middle Eastern countries.
The militia, which formed a knot in all efforts to save the Lebanese economy for many years, has been operating according to Tehran’s agenda, which aimed to keep the country in crisis to turn it into a backyard for the regime of the mullahs.
Despite the many political components that Lebanon enjoys, some of whom are friends of the United States and the West, attempts to bring the economy out of its stalemate have failed due to Hezbollah’s eagerness to create corrupt secret corridors for help the Iranians circumvent US sanctions.
However, the indebted country could not endure these failed adventures and ended in a complete economic explosion parallel to widespread civil unrest in the midst of a state of “state failure.”
Despite being firm for more than 22 years at a unified rate against the dollar since 1997, the Lebanese pound began a journey of rapid collapse since the end of 2019 from the level of 1507 pounds per dollar.
According to the website Lyra REIT, which monitors the price of the Lebanese pound against the dollar on the black market, the price of the dollar against the pound jumped from 2,120 pounds in January 2020 to 8,275 pounds on September 27, 2020.
This means that the Lebanese pound fell against the dollar by 290% in 2020.
Syrian pound – 156%
Syria bet heavily on Iran, but could not bear the economic price of this gamble, just as Erdogan’s manipulation in many parts of the country and the continued looting of its oil wealth formed another sword in its side.
At the height of this difficult situation, last June the United States imposed new sanctions on Damascus under the name “Caesar Law”, which eventually destroyed the rest of the country’s economy.
Caesar was a terrifying nightmare for the Syrian economy even before its implementation, which pushed the Syrian pound to decline since last March.
The United States believes that the collapse of the Syrian pound proves that Iran can no longer support the Syrian regime, while the regime itself can no longer manage effective economic policy.
According to “SB Today”, the price of the dollar (on the black market) against the Syrian pound jumped from 916 pounds in January 2020 to 2,350 pounds on September 27.
This means that the Syrian pound fell against the dollar by 156% in 2020.
Iranian rial – 120%
For Iran, the year 2020 is the year of the “magic blow against the wizard” as Tehran has been toying with the economies of neighboring countries and using them as buffers for US sanctions and directing them only according to its interests.
But those maneuvers failed to counter the effectiveness of the US sanctions that tightened its grip on the mullahs’ regime and forced it to take great steps backwards.
Days ago, Iranian President Hassan Rouhani admitted not having faced the impact of the sanctions and revealed that his country had incurred in revenue losses of 150,000 million dollars since the president of the United States, Donald Trump, retired in 2018 of the 2015 nuclear deal and reimposed the sanctions.
Therefore, 2020 was the year of the record collapses of the Iranian riyal, in which the deterioration of the situation reached a record low almost every hour on some days of the year.
According to Bonbast.com, which specializes in monitoring the exchange rate of the Iranian riyal against foreign currencies on the black market, the selling price of the dollar in Iran jumped from 133 thousand rials to one dollar earlier this year, to 292 thousand rials on September 27.
This means that the Iranian rial has fallen by around 120% against the dollar since the beginning of the year, knocking all economic logic against the wall, confirming that the Tehran regime is not worthy of the trust of any investor or citizen.
Turkish lira – 29%
The same is happening in Turkey … Erdogan’s magic has turned against him, his regime and his men, who cling to the joints of the economy in a country that was once a magnet for foreign investors.
Now the Turkish lira has become a letter that everyone seeks to get rid of, whether they are investors or citizens, after becoming a symbol of a country that seeks to ruin neighboring countries and the neighborhood through failed adventures.
An investor in Turkey cannot ignore the collapse of Turkey’s foreign exchange reserves, the lack of independence of its central bank or the future of its lackluster economy since it was thrown into the hands of Treasury Minister Albert Albayrak, son-in-law. pampered by Erdogan, to manipulate him.
Similarly, it is impossible for anyone to turn a blind eye to the enormous costs of Erdogan’s military and political adventures in Syria, Libya, the Mediterranean and other conflict zones.
All of this was reflected in the Turkish lira, the price of which fell against the dollar from 5.95 lira in January 2020 to 7.66 lira on September 25, 2020, according to the United States Bloomberg Agency.
This means that the Turkish lira has fallen nearly 29% against the dollar since the beginning of 2020.
