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Commodities

Iranian Rial Hits Record Low Amid Ongoing War and Sanctions

Guavy AI Editorial Team
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The Iranian rial has plummeted to a new all-time low, with over 2.5 million rials needed to buy one US dollar on the black market in Tehran.

This marks the latest drop for the currency, which hit its previous record low of 2.2 million rials to the dollar just 27 days ago on September 2.

The Iranian economy has been under pressure due to international sanctions and the ongoing war in the Middle East, with the US naval blockade of Iranian oil and new sanctions imposed since February exacerbating the situation.

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