The toman should be strong. The currency of a vast country awash with oil, natural gas, fertile soil, and a highly educated, internet savvy young population should be standing high in the money markets. But the toman has been slipping in its value against the dollar. And on Monday (2nd January 2012) its value sank another 13%. Experts in Tehran were quick to say that this had nothing to do with the sanctions, or the threat of an embargo on their oil. This puts pressure on President Ahmadinejad, seen by some as being somewhat lacking in finesse when it comes to the economy.
For ordinary people more economic instability is not good news. A weak currency is bound to mean there will be jumps in the prices of imports, but salaries won’t jump as well. Cold economic winds can often be the chilliest for Christians who often face job insecurity because of their faith.
• Toman to stabilize
• Wisdom for economic ministers
• Christians to prove that ‘God supplies all our needs in Christ Jesus’