Iran Rial Sinks to 2.20 Million per Dollar as Sanctions and Attacks Deepen Slide
Updated
Updated · The Guardian · Sep 3
Iran Rial Sinks to 2.20 Million per Dollar as Sanctions and Attacks Deepen Slide
3 articles · Updated · The Guardian · Sep 3
Summary
2.20 million rials bought $1 in Tehran on Wednesday, sending Iran’s currency to a new record low and nearly 10% past the previous trough set on Aug. 25.
The latest drop extends a slide already underway before the Feb. 28 U.S.-Israeli attacks, with tightening U.S. sanctions, double-digit inflation and negative growth all weighing on the rial.
More than six months into the conflict, the rial has repeatedly set fresh lows and has lost about half its value over the past year.
That sustained depreciation underscores how military pressure and economic isolation are compounding Iran’s domestic economic weakness.