Iranian Rial Hits Historic Low Against US Dollar Amid Economic Sanctions

The Iranian rial has reached its weakest level in history against the US dollar. Amid severe inflation and stringent international sanctions, the value of the rial has sharply declined. According to Pasiji.com, a website monitoring Iran’s independent foreign exchange market, the sale price of the US dollar in the independent market has reached a record high of 2.3 million rials.

The rapid depreciation of the rial followed the US’s implementation of additional sanctions under ‘Operation Economic Outcast.’ These measures aim to economically isolate Tehran within the global economy. Iran’s annual inflation rate has surged to 61.4 percent, with official data showing food prices escalating by 128.1 percent over the past year.