Iran’s rial currency hits new record low as US prepares to announce more sanctions
The rial fell to 2.02 million per dollar as Washington prepared tougher sanctions that could target countries and institutions still doing business with Tehran.
- On Monday, August 24, Iran's rial weakened to around IRR2,031,000 per US dollar on the open market, according to Bonbast data, extending a slide that has roughly halved the currency's value in under a year.
- Israeli and US strikes on Tehran in late February triggered the currency's freefall, compounded by a naval blockade, fresh US sanctions, and halted oil exports that drained hard currency supplies.
- This depreciation accelerated from October, when the dollar was quoted at IRR950,000, while annual inflation persists at around 40%, eroding confidence amid chronic fiscal deficits.
- The Central Bank of Iran favors a cautious stance over intervention due to fiscal constraints, while The Azadi gold coin reached IRR2,180,000,000, signaling mounting pressure on domestic assets.
- Starting in 2027, Iran plans to strip four zeros from the rial in a long-delayed redenomination intended to simplify transactions rather than address the underlying economic decline.
191 Articles
191 Articles
While Washington is stepping up its pressure on Tehran, the rial, the Iranian currency, continues its fall and concerns are gaining markets. But behind the bad economic statistics, it is mainly households that absorb the shock, reducing their consumption, savings and essential expenses.
Iranian Rial Plunges to Record Low as Citizens Cash Out Amid New US Sanctions Push
Internewscast Journal Internewscast Iran’s rial sank to a fresh record low Monday as Washington prepared… This Post: Iranian Rial Plunges to Record Low as Citizens Cash Out Amid New US Sanctions Push first appeared on Internewscast Journal
Iranian Rial Hits Record Low as the U.S. Unveils New Sanctions
U.S. Treasury Secretary Scott Bessent speaks during a press conference, announcing a new set of sanctions against Iran and describing the measures as an "economic D-Day," on Aug. 24, 2026. —Mehmet Eser—AnadoluIran’s currency plummeted in value Monday, hitting a record-low open-market rate of 2.02 million rials to the dollar, amid the White House’s launch of “Operation Economic Outcast,” which aims to force concessions from Iran through isolation…
Iran’s rial drops to record low as U.S. readies more sanctions
Iran’s currency hit a record low on Monday as Washington prepared to announce new sanctions it said would put more pressure on an economy already battered by previous sanctions and a U.S. naval blockade. The rial dropped to 2.02 million to the U.S. dollar as trading opened on currency markets. Iran’s official Central Bank rate stood at around 1.5 million rial to the dollar, but the market rate is what most Iranians pay. The currency had already …
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