Foreign Policy Research Institute   The Decline of the Rial in
the Iranian Media  Kate Manbachi  On July 11, 2012, the Minister
of Culture and Islamic Guidance, Seyyed Mohammad Hosseini,
publicly warned the Iranian press against publishing pieces
about the negative effects of Western sanctions on the Iranian
economy. This was the first time Hosseini openly admitted to the
censorship of media, claiming that, “Our country is not in a
position to allow the press to publish any analysis which is not
agreeable with regime and national interests.”[1] This was three
months before Iran saw its worst economic crisis since the Iran-
Iraq war. By October 3rd, 2012, the rial hit a record low
against the dollar—dropping to nearly 38,000 rials to the
dollar—with inflation estimated around 40 percent and merchants
in Tehran’s bazaar closing their shops in protest.  With these
new developments, the Iranian government cracked down even
harder on the press and banned reporting on the newest currency
rates. Sites that normally p