Recently launched government plans to restore stability to the troubled foreign exchange market proved no remedy, as ordinary Iranians continue to see their pockets shrink. At the closure of Iran’s foreign exchange market on Thursday, the country’s national currency, the rial, nosedived to a new record low. A US dollar …

Some countries in the region are increasingly looking away from the dollar. The Iraqi Central Bank said on Wednesday that it will conduct trade with China in its currency, the yuan. “Financing of foreign trade with China will be organized directly using the Chinese yuan,” the bank said in a …

The Russian invasion of Ukraine hurt the region economically, as supply chain disruptions and food shortages topped respondents concerns in Turkey, Egypt, Yemen and Iraq WASHINGTON — One year after its invasion of Ukraine, Russia’s image has taken a hit in Turkey, Yemen and Iraq, according to the latest Al-Monitor …