Iran’s currency drops to more than 1 million rials to US dollar: What to know

Iran’s currency drops to more than 1 million rials to US dollar: What to know

This is yet another record low for Iran’s currency, as the country navigates intense sanctions and US pressure.

Iran's currency drops to a record low amid geopolitical uncertainty

Iran's currency fell below the psychologically key level of 1,000,000 rial per US dollar on Tuesday, as market participants saw no end in sight to sanctions under US President Donald Trump's renewed “maximum pressure” campaign.

Iranian currency hits historic low as one US dollar crosses one million riyals

Tehran: Due to US sanctions and economic turmoil, Iran’s currency has plummeted to a record low, with one US dollar surpassing 1,039,000 Iranian riyals for the first time. Experts predict further depreciation of the riyal amid former US President Donald Trump’s renewed “maximum pressure” campaign. In a recent statement, Trump sent a letter to Iran’s Supreme Leader Ayatollah Khamenei, warning that Iran’s nuclear program would either be halted thr…

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Inflation in Iran is running at around 40 percent, forcing people to seek safe havens for their savings.

Iran's currency hits historic low as markets react to tensions between Washington and Tehran.