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FATF crushes Turkish Lira, Pakistani Rupee and Iranian Rial

TFIPOST News Desk
by TFIPOST News Desk
24 November 2021
in Geopolitics
7
Iran, Iranian, Pakistan, Turkey, FATF
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  • The currency of Turkey, the Islamic Republic of Pakistan, and the Islamic Republic of Iran have been on a nosedive.
  • The value of the Turkish Lira has consistently declined for the last month.
  • Pakistan is going through a torrid time on the economic front.

The last few weeks have not been good for Islamic nations – Shia or Sunni. The currency of Turkey, the Islamic Republic of Pakistan, and the Islamic Republic of Iran have been on a nosedive.

The value of the Turkish Lira has consistently declined for the last month. Currently, 1 US Dollar is equivalent to 12.72 Turkish Lira. Its value has declined in double digits in the last one month, from around 10 Lira per USD to 12.72. 

 The major source of foreign currency and one of the significant parts of the Turkish economy was tourism, which collapsed with the onslaught of the Chinese virus. Exports to Arab countries, the next big source of American dollars, are also set to collapse amid the calls of the boycott of Turkish goods, and this is giving sleepless nights to Turkish.

Similarly, the value of the Pakistani rupee has consistently declined over the last few weeks. IMF is not releasing the next tranche of loans to the Islamic country because it is yet to deliver on promised reforms. The forex situation has been dismal for the last few months and declined from 19.2 billion dollars to 17.2 billion dollars in the last month.

Pakistan is going through a torrid time on the economic front. The sky-high inflation, owing to depreciation in the value of the Pakistani rupee and the new tax policies implemented by the government has led to inflation rates crossing the 9 percent mark in September.

The Wholesale Price Index (WPI), which captures prices in the wholesale market, also rose sharply by 19.6 percent in September compared to 4.3 percent in the same month a year ago. According to the Pakistan Institute of Development Economics, about 39 percent of Pakistanis live in poverty and the rising inflation could have a catastrophic effect on them.

Iran’s Rial has also declined by another 2.8 percent, bringing its 6-month loss to 31.5 percent. After former President Donald Trump’s administration left the Joint Comprehensive Plan of Action (JCPOA), Iran’s economy has suffered. Iran is now cozying with China in order to improve the economic conditions but that has been of little help so far. Most of the countries around the world, including India, have stopped purchasing oil from the Islamic Republic of Iran, so the recent surge in oil prices is of little help to the country.

The Islamization policies of leaders in countries like Iran, Turkey, and Pakistan are pushing their economy into the medieval world. Erdogan‘s dreams are bringing back the Ottoman Empire’s glory of the medieval world, that too through medieval practices.

His promotion of Ottoman-inspired Turkish TV series and aggressive export of these soap operas in countries like Pakistan shows that he wants to establish Turkey as the center of the Islamic world and designate himself as caliph. But, the modern world runs on sound economy and technology, and Turkey as well Pakistan is losing on both fronts as they involve themselves in conflict with the Western world and rapidly modernizing countries like India.

Read more: Delhi Dialogue effect: Taliban starts trading through Chabahar dumping China-backed Pakistani ports

Iran, too, is descending into chaos. Although, Iran’s problems are the result of American sanctions than its own doing but overall, the post-Covid world does not seem kind to the Islamic countries.

Tags: FATFIranPakistanturkey
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Comments 7

  1. Avatar Modi Gandu says:
    6 months ago

    Cow Urine Drinker keep posting and commenting.. Pakistan Turkey and Iran Zindabad .. Hell to Cow Urine Drinkers and Their India

    Reply
  2. Avatar India Ki Maa Ki Choot says:
    6 months ago

    India Ki Maa Ka Bosda aur Article Likhny Waly Ki Maa Ki Choot. Hindu are terrorists and killers are innocent Kashmiri people..

    Reply
    • Avatar nsrk says:
      6 months ago

      your izlam is a parasitic predatory deset cult and you are a thoroughly brainwashed izlamic zombie

  3. Avatar Abhinandan says:
    6 months ago

    Article likhny waly Bsdk tu kia smjhta ha ue tera Cow Urine Drinker country progress kr rha ha? Lora mera bsdk

    Reply
  4. Avatar Truth is bitter says:
    6 months ago

    Look at the comments of Pakistani jihadi pigs…Hahaha…This shows that these pigs will sure take back their country to stone age…

    Reply
  5. Avatar Thee says:
    6 months ago

    reading these comments so funny… the funny thing is they have not even a single word to say for or against the details stated on the economy and overall currency status which is all this status is about.. instead they go wild mad dog literally barking against the wrong bush… amazing… lol

    Reply
  6. Avatar babakool says:
    5 months ago

    These “cow urine drinker” haters are actually camel urine drinkers.. LOL

    Reply

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