Rewritten Title: A Decade in Wages: Tracking the Purchasing Power of Iran’s Minimum Salary
Article:
A Shift in Economic Standing
A comparative analysis of Iran’s minimum wage over the past decade reveals a significant shift in its international purchasing power. In the Iranian calendar year 1394 (2015-2016), the minimum monthly salary was set at 712,000 tomans. Based on the exchange rate at that time, this amount was equivalent to approximately $205.
The Current Economic Picture
Today, the minimum wage has seen a substantial increase in its nominal, or Rial, value. The current figure stands at 10.3 million tomans, representing a significant rise on paper. However, when measured against the US dollar, the story changes. With the current market exchange rate for the dollar hovering around 113,000 tomans, the purchasing power of the minimum wage is now equivalent to roughly $90.
The Erosion of Dollar-Based Value
This comparison highlights a stark contrast. While the Rial amount of the minimum wage has grown, its value measured in a key international currency has decreased. The data indicates that the dollar-based value of the minimum wage has fallen over this ten-year period, moving from $205 to approximately $90. This shift places Iran’s minimum wage rate among the lower tiers when compared regionally.
The accompanying infographic visually details this comparison of purchasing power between the present day and a decade ago, illustrating the changing economic landscape for wage earners.