24 Hrs
Source:
المشهد العربي
Iranian rial drops under sanctions
The collapse of the Iranian rial amid escalating American sanctions, with its exchange rate reaching approximately 2.04 million rials against the dollar in the unofficial market in Tehran, marking its worst decline in history. This comes after the American president announced a strong economic campaign against Iran, leading to a roughly 6.7% depreciation of the local currency since the escalation began, amidst an almost complete halt of Iranian oil exports and attempts by the Central Bank to reassure the market. This downturn is part of the largest economic sanctions campaign imposed by Washington on Iran.
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