Iran struggles with plummeting currency amid nuclear talks

Amid renewed diplomatic efforts between Iran and the United States to address nuclear concerns, the Iranian populace continues to struggle as the national currency hits record lows and inflation undermines daily life.

Despite some diplomatic progress following negotiations between Iranian and U.S. officials in Oman aimed at addressing the nuclear issue, the economic problems in Iran persists. Iran's foreign minister is currently visiting Russia ahead of a second round of talks with U.S. representatives, scheduled for Saturday in Oman.

The economic fallout began in 2018 when U.S. President Donald Trump unilaterally withdrew from the Iran nuclear deal, sparking a wave of sanctions that continues to affect the country.

During the Iran's New Year celebrations, Nowruz, the exchange rate surged over 1 million Iranian rials per one U.S. dollar, as currency exchange shops closed, and informal street trading became the only means of currency exchange, further escalating market pressure.

Although the talks between Iran and the U.S. held in Oman on Saturday slightly slowed Iranian rial's decline, the recent collapse of the national currency has severely diminished purchasing power, making essential goods increasingly out of reach for many Iranians.

"People are really having a hard time. The currency fluctuations and the economic instability are seriously bothering people," said Farahnaz, a Tehran resident.

"Now it's gotten to a point where people don't know what to do. What will happen 10 years from now? How can I reach my ideals?" said Zahra, another Tehran resident.

Economists warn that years of stagnation, corruption, and sanctions have pushed Iran's economy to its breaking point, with severe social consequences looming.

"People's ability to tolerate these conditions has worn thin. A large segment of the population can no longer accept or live with this situation, especially as it continues to deteriorate," said Hossein Raghfar, a Professor of Economics at Alzahra University.

Iran struggles with plummeting currency amid nuclear talks

China's copyright registrations for computer software achieved a record high of over 2.8 million last year, the China Copyright Protection Center announced on Monday.

In 2024, the total number of computer software copyright registrations in China reached 2.827 million, marking an increase of 330,000 over the previous year and a 13-percent year-on-year growth.

Among these, software related to voice recognition, natural language processing, and intelligent analytics saw growth rates exceeding 30 percent, significantly outpacing the overall growth of all software categories. In emerging sectors such as biotechnology, low-altitude economy, the Internet of Things, and humanoid robots, software registrations surged by over 40 percent

This trend indicates that the application of cutting-edge technologies is accelerating the rapid development of related industries and injecting new impetus into economic growth..

Additionally, the number of software registrations in key industries like manufacturing, education, healthcare, finance, transportation, information security, electricity, and e-commerce also saw remarkable growth.

In 2024, these sectors collectively registered 77,000 more software pieces than the previous year, raising their share of the total software volume from 30 percent to 32 percent.

Notably, the manufacturing sector stood out, with its software registrations reaching 8.0 percent of the total, reflecting the industry's strong resilience as a pillar of the national economy and its crucial role in leading the digital economy era.

China sees record 2.8 mln computer software copyright registrations in 2024