Iranian rial hits historic low at 2.2M per dollar
The Iranian rial recorded its lowest ever level against the dollar, surpassing the 2.2 million riyals per dollar mark in the unofficial market, amid increasing pressure on the Iranian economy and strained relations with the United States. This comes after the Central Bank of Iran announced the availability of sufficient reserves and its readiness to inject up to two billion dollars to calm the market, although the official exchange rate remains around 1.5 million riyals per dollar. The sharp decline reflects the currency's devaluation due to escalating U.S. sanctions and economic tensions, with the rial losing over 15% since President Trump announced economic measures against Iran.
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