As of June 2021, Iran's nominal GDP was 72.6 billion and per capita income was 12,630, but the country's overall economic situation and financial management sector were not at all satisfactory. On the contrary, Iran's annual GDP growth rate is expected to be 3.1% by the end of 2021, but it will come down to -6% by the end of 2020. According to Iran's 2021 estimates, the overall inflation rate is 34.5% and the average unemployment rate is around 16%.
According to the IMF, Iran's foreign exchange reserves fell to an alarming 12.4 billion in 2020 during the Corona epidemic. However, Iran's foreign exchange reserves have risen sharply to. 31.4 billion in 2021 due to rising fuel prices in the international market. However, despite the US direct and indirect economic blockade, the country had huge foreign exchange reserves of 122.5 billion in 2016. At the end of February 2020, Iran's central bank had 8 billion in foreign exchange reserves and ৮ 128 billion in 2015.
As of November 17, 2021, the Iranian people have to pay about 42,250 Iranian rials against the dollar. Which is 491.90 Iranian Rials against the exchange rate of 1.00 Taka in our country's currency. This means that at the moment, if someone travels to Iran with only 100 dollars, he will get the opportunity to spend the equivalent of 42 lakh 25 thousand Iranian riyals. However, judging by the country's high commodity prices, this amount of money seems to be negligible.
At present, the revolutionary government of Iran is trying to control the overall inflation of the country and keep the flow of money in the market. 100,000 denominations of Iranian real banknotes have been released. In addition, coins of 50, 100, 250, 500, 1,000, 2,000 and 5,000 riyals are currently in circulation in Iran. In Iran, however, the Iranian currency has been set at 42,250 against the dollar, but in the face of a severe dollar crisis in the Iranian open market, the exchange rate of one dollar has to be spent at 2,85,550 Iranian rials.
Meanwhile, a review of the retail market prices of food and other items in Iran shows that the price of 1 kg of boneless processed chicken in the Iranian market is about 740,000 Iranian riyals. Which is equivalent to 1,303 rupees in Bangladeshi currency. The price of 1 liter of milk is 1,06,620 riyals, 1 egg is 75,600 riyals, 1 kg of apples is 1,93,900 riyals, 1 kg of tomatoes is 1,14,600 riyals and 1 kg of potatoes is 6,200 riyals. Moreover, the price of 2 liters of Coca-Cola is 1,23,100 riyals.
The rent for a 900 square foot flat in the big cities or elite areas of Iran is 14,32,35,000 riyals and 60,1,00,000 riyals in the general area. Which is equivalent to about 2,92,000 rupees and 1,73,150 rupees in Bangladeshi currency respectively. In addition, a pair of good quality jeans costs 4,75,200 riyals and the cost of 1 month (8 Mbps speed) internet is about 6,79,000 riyals. Moreover, a cup of tea costs 20,000 riyals (equivalent to 41.00 rupees in Bangladeshi currency) and a 1.5 liter bottle of water costs 10,000 riyals. However, the price of all products may be higher or lower depending on the city and region of Iran.
