Nicholas Ghilani, an investment banker, said the Central Bank of the Islamic Republic has lost its classic and non-classic tools to control the currency market and no longer has the ability to contain the upward trend in the dollar exchange rate.

He added that the simultaneous surge in inflation and the exchange rate indicates that Iran’s economy has slipped out of policymakers’ control. According to Ghilani, economic pressure, possible military actions, and the removal or dismissal of government officials could bring the Islamic Republic closer to a stage of collapse.