Iranian rial hits historic low
The Iranian rial's exchange rate has fallen to a record low of two million rials per dollar in the informal market, marking a 4.5% decline during the morning transactions as a result of the US campaign to cripple Iran's economy. This comes amid a significant drop in oil exports and damaged financial transfers, with the Central Bank governor confirming that oil exports have effectively halted, along with rising demand for imports and high inflation expectations. These developments reflect a severe economic crisis currently facing the country.
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