dollar keeps dropping lower and lower
when is this doom's day everyone was talking about a few months ago?
The doomsday is already here. If you think the artificial exchange rate of US dollar vs. Rial has any significance in Iran's economy, well then, try to get informed.
Just yesterday, the government itself released official numbers for "poverty line" (minimum income required) for family of 3: 7,000,000 toman. The current minimum wage in Iran: 1,500,000 toman. It's impossible for a married couple to survive at a sustainable rate these days. If that's not called doomsday in your book, well then, try to get informed.
The US dollar will jump to its natural rate (at least triple the current artificial rate) when the wheels of Iran's economy actually start turning (that will happen sooner or later). Right now, everything is at a standstill. There is so little business activity, there's little demand for US dollar. The entire country can be considered "unemployed" right now because nothing is happening. Once this changes (and it must), the true depth of today's catastrophe will be visible.
Until then, do not hold significant sums of Rial for any reason. US dollar is a very good hedge right now. It's actually subsidized by Iran's government. The somewhat smarter people are constantly adding to their foreign currency balance. At these rates, it's a no-brainer. Doesn't matter though. Iran fell deep into poverty much sooner and faster than even I had anticipated. It's an ugly forecast from here on.