Iranian rial hits 2.5 million per dollar

The Iranian currency, the rial, has recorded a new historic low, with the exchange rate in Tehran surpassing 2.5 million rials per US dollar. This comes amidst the fallout from the Middle East war, which is impacting Iran’s economy. This decline follows just 27 days after the rial previously reached a record high of 2.2 million rials per dollar, reflecting ongoing deterioration since the outbreak of the war in February. Concurrently, the U.S. administration confirms that the new sanctions and the naval blockade imposed on Iran are increasing economic pressures, with predictions of an imminent economic disaster in Iran. Meanwhile, figures indicate a continuous decline of the currency and rising inflation rates.

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