Iranian Rial Falls to Record Low of 2.5 Million per US Dollar

Iran’s economy has been under pressure from international sanctions for several years

The Iranian rial has fallen to a new all-time low, with the exchange rate in Tehran exceeding 2.5 million rials per US dollar, according to the Associated Press.

The previous record low was recorded on September 2, when one US dollar traded at around 2.2 million rials. The new low was therefore reached just 27 days later.

According to the agency, the Iranian currency has repeatedly hit new lows since the start of the armed conflict in February.

Iran’s economy has been under pressure from international sanctions for several years. Additional strain has come from the US naval blockade of Iranian oil exports and new sanctions imposed after the outbreak of the conflict.

Photo: Central Bank of Iran.

SHARE YOUR OPINION AND DISCUSS THE ARTICLE ON OUR TELEGRAM CHANNEL!