Iranian Rial hits historic low amid US pressure
Reports indicate that the Iranian rial has recorded its lowest-ever level against the dollar, reaching 2.69 million rials per dollar due to ongoing U.S. pressures as part of the "Economic Ostracism" campaign. The figures show that the currency has lost more than 62% of its value since the U.S. war against Iran began on February 28. The sanctions have caused inflation to rise to 90%, with food prices increasing by 127%. The U.S. campaign focuses on isolating Iran's economy and includes targeting the oil, finance, technology, and transportation sectors, which has led to the halting of oil shipments, increased trade costs, and a decline in Iran’s ability to fund its industrial activities and economic resources.
Notice: This Is an AI-Generated Summary
Comments (0)