In a development that must be hard to stomach for the political elite in Tehran, many Iranians are turning to U.S. dollars to offset the impact of sanctions and a faltering economy, the Wall Street Journal reported on Tuesday. A steep plunge in the value of the rial, Iran’s currency, has led to a spike in demand for dollars in recent months from Iranians seeking safer assets, the report added. On Tuesday, one U.S. dollar bought 107,000 rials, compared with 43,000 rials in January. When Iranian President Hassan Rouhani took power in 2013 a dollar bought 36,000 rials, according to CNBC reports . Unfortunately, for the average citizen in Iran currency devaluation has been a continuous problem since the country’s 1979 Islamic Revolution when one dollar bought 70 rials. Recently, Iranians have been flooding local banks to acquire dollars so much that exchanges have been forced to shut their […]