"The impact will be deficit in the balance of trade and thus payment on the part of a depreciating country, in which the exports for whatever reason are either stagnant or declining. More important, it decimates the purchasing power of the population at large of all traded goods, particularly those required as input to industrial sectors."

Asia Times spoke to Professor Bina on the fluctuations of the foreign-currency market in Iran, the impacts of the US economic sanctions on the livelihoods of Iranian people, and the broader economic challenges ahead of the Iranian government.